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IBond is unfair to taxpayers, said senior financial commentator

出自香港新聞網 - 樹仁新傳系學生實習習作

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--095107 2012年2月7日 (二) 23:34 (UTC)


Last week, the Financial Secretary, John Tsang Chun-wah, delivered his last budget. The government expects that the inflation rate will fall from last year’s 5.3 percent to 4 percent in 2012. (good opening)


Although it is hoped that the inflation will be less severe, the government decided to issue an inflation-linked bond – the iBond again.


The iBond, with a maturity of three years, was first introduced to the public in the 2010-2011 government budget by John Tsang. The issuance size of last year’s iBond was HK$10 billion and now the government will issue another HK$10 billion with a view to help the public to relieve inflationary pressure. (good!)


However, Chiu Sin Chun, senior financial commentator of Now TV, doubted the (operation?) and effectiveness of iBond. “They only put the money collected from iBond into the Treasury. They should make good use of the money such as making investments,” said Chiu in an assembly in Shue Yan University on Tuesday, Feb 7, 2012.


He did not agree with the government’s arrangement to use taxpayers’ money to pay for the interest of iBond. “It is unfair to taxpayers as it is not reasonable to preserve iBond holders’ purchasing power by taxpayers’ money. I can’t believe that there is no one from the financial field to criticize the operation of the iBond,” said Chiu.


Generally speaking, the low-income families should be those who struggle most to survive under inflation (rephrase, otherwise sounds evident-unnecessary). However, iBond cannot help them at all. Chiu added that, “it is unfair to these poor people too as they do not have enough money to buy the iBond.”

Good work! You provided adequate background information on the iBond, and explained why it is criticized concisely. Your ending could use more closure however, as for now it could use more of an "ending tone" (finally, lastly, etc)
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