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Government done little to tackle financial problems

出自香港新聞網 - 樹仁新傳系學生實習習作

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Reported by Kenneth Tam


Financial analyst Chiu Sin-chun said the budget had map out three scenarios showing that a structural deficit would emerge within 15 years, depending on how much are we inputting on health, welfare and education in the near future.

“They knew the problem exists but they have done little about it.” said Chiu, “it is as if the same as the last year’s budget plan.”

Financial chief Tsang Chun-wah announced a cut in one-off relief measures by 40 per cent in the Financial Budget 2014, preparing for the worst-case scenario, a structural deficit in 2021.

Chiu purposed that the government should find ways to increase Hong Kong’s competiveness, instead of cutting expenditure before there is a deficit.

“The government is acting as we are already in deficit, they neglected the fact that we may increase income, through tax or by imposing business friendly policies,” said Chiu.

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