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Chiu: miserly budget, shortsighted government

出自香港新聞網 - 樹仁新傳系學生實習習作

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--095164 2012年2月8日 (三) 03:44 (UTC)

((title has a pessimistic tone...interesting)) The Hong Kong budget announced on Wednesday has been criticized by for being miserly by Now TV senior financial analyst Chiu Sin Chun at general assembly of Shue Yan University today.

The Financial Secretary, John Tsang, has announced new actions costing nearly HK$80-billion to help local residents and businesses through what he described as a 'difficult and thorny year.

The latest budget grant many sweeteners to local middle class include tax rebates of up to HK$12000 for salary earner, an electricity subsidy of HK$1,800, and enhanced loan guarantees to small businesses. However, many criticized John Tsang’s budget was “Empty and without clear vision.”

Chiu agrees with the mainstream criticism and he believed the cause of improper arrangement of resources by government is being “too miserly”, which is also the fatal wound hindered local financial development. “Tsang is expected to offer modest relief measures to help with the rising cost of living, including waiving property rates and granting tax rebates, but he has done it in a wrong way.”

He said, “The government should change their way of thinking, value valuable things by putting more resources into it instead of only focus on check and balance.” Chiu took local public transit for example. “The public transits should be owned and operated by government to provide real reasonable transport.”

As he explained, though MTR is serving the public, at the end of the day it is still a private own sector which trying to raise the income, current upward and downward adjustable mechanism can’t protect the public from unreasonable current fares.

Chiu pointed out, the only way to improve living of public is to lowered the price of daily basic consumption, instead of making people to fight for higher salary to deal with them. Otherwise, the local financial development will just fall into a vicious cycle. (((nice job here...the first two sentences seem a bit too similar in nature, but your writing opens up after that))
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