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Conservative Budget is not suitable for Hong Kong, Chiu Sin Chun said.

出自香港新聞網 - 樹仁新傳系學生實習習作

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(新頁面: The latest Budget has been released last Wednesday with different benefits to Hong Kong citizens. Some of them are satisfied to the measures and allocation of government capitals. However…)
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在2012年2月8日 (三) 04:10所做的修訂版本

The latest Budget has been released last Wednesday with different benefits to Hong Kong citizens. Some of them are satisfied to the measures and allocation of government capitals. However, some criticized that the Budget can be better. Chiu Sin Chun, a financial expert of Now TV, criticized today in the general assembly held by HKSYU that it lacks incentives and is not farsighted enough.


He said that the introduction of iBond is the measure that he mostly criticized. Chiu said that the use of iBond is to tackle the problem of inflation. However, the program shows its limitation as people who can afford purchasing its shares are not those who are from grassroots which are mostly affected by inflation. He criticized that the 10 billion dollars which government received from issuing iBond are stored rather than being used for investment. Afterwards, the interests received by iBond’s shareholders are come from the government, which are actually come from the taxes received from the public. He said the most effective way to tackle inflation should be tighten up the monetary situation and increasing interest rates rather than issuing iBond.


Apart from that, he also criticized that government is too conservative on expenditures. He said that reducing expenditures is only necessary in the times of financial crisis but not at present. He said that government should allocate more capitals in different aspects to encourage the development of society. For example, he mentioned that it is necessary for government to increase the capital used on education as more education resources provided to Hong Kong citizens are able to boost the development of the whole society in future.


He also criticized the Budget that the housing problem in Hong Kong which citizens are mostly aware on is not the main focus in the Budget this year. The program of the new public housing and flats in Home Ownership Scheme is not mentioned in the content of the Budget. Chiu advised that government shouldn’t put their focus on the selling of land, but implement suitable measures for the society with using research and development.

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