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Financial commentator criticizes: Budget without a financial concept

出自香港新聞網 - 樹仁新傳系學生實習習作

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095028 Leung, Ho Yu Ruby 2012年2月7日 (二) 22:35

John Tsang, Chun Wa’s last Financial Budget released last Wednesday, was accused of benefiting the middle class. But senior financial commentator Chiu Sin Chun severely criticized the government has no financial management concepts and cannot completely resolve the fundamental problem. [Good intro, with a nice set up. Will expect exapnsion on what the problems are, and why the new budget is deficient.]


Chiu said, the government’s fiscal conservative can been seen through the Budget [how?], and “there is no contribution to the overall Hong Kong economy.”


He then took the estimation of land sales as example, pointed that several years’ expected sell revenue is more than 60 million. That means, there will be 20 pieces of new land adding into the application list in the coming year, and the estimation is still the same. [The point of this decleration being...?]


He emphasized this conservative management is not incorrect, but it should not lose the principle [which principle?]. “Government investment should have investment thought. And through the research and development, they should tax-and-spend, give the right medicine [which is?]. So, that is the long-term solution.”[Good that you provide long-term solution, bad that you don't explain it.]


Chiu also criticized, ibond is an unreasonable investment tools. He said, “In Hong Kong’s linked exchange rate system, ibond is outdated [why?]. But the Budget did not mention it.” He said this reflects the disregard of government on this issue.


He believes, “interest on ibond is equal to payment from taxpayers, whom citizens pay for themselves to anti-inflation. Why?”

Ruby Leung

[Grade: C+]
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