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The Government Budget turns into a “Political Budget” nowadays, says Chief Editor of iMoney Magazine

出自香港新聞網 - 樹仁新傳系學生實習習作

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The financial budget this year shows a strong political sense, not far-sighted as usual but responses to the public concern, the asset-price bubble.

“The Government Budget is de-jure nowadays. It turns into a political tool of pressure groups," said Ricky Suen, Chief Editor of iMoney Magazine, in a talk at Shue Yan University, “True, the budget “gives sweets”, but just on short-term basis and has prompt effect.”

Asset- Price bubble, the crux of this “political budget”, has several measures. They are the activation of the Home Ownership Scheme (HOS), improving facilities of HOS and increasing the transaction cost of property speculation with appropriate tax measures so as to reduce the risk of creating a property bubble. "I can't agree they are effective in long-term," Suen expressed.

From the budget, showing present financial situation in Hong Kong, Suen urged Hongkongers to " go east and look north" in the future. "We should earn the Chinese money." He explained China, with her large savings of foreign currency and rapid financial development, she can hardly fall.

"If Hong Kong wants to earn Chinese money," he said, "we should look like a revolted London in finance, Switzerland in property management, Tokyo in tourism and Bostern in education in the eyes of Chinese."

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