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  • April 18, 2014
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  1. Business - Comment - JAKE'S VIEW

    Flawed forecasts from fiscal working group defy laws of the universe

    Posted Mar 06th 2014, 12:44am by Jake Van Der Kamp

    ... fiscal savings almost as large as our annual gross domestic product. Yet we are told that we are on the brink of a fiscal crisis. What world indeed do these scaremongers inhabit? ... Jake van der Kamp Fiscal group's inflation figures fail to account for temporary anomalies that will self-correct Flawed forecasts defy the laws of the universe we live in Advisers ...

  2. Comment - Insight & Opinion

    Another deficit of clear thinking among Hong Kong's fiscal planners

    Posted Mar 09th 2014, 04:02am by Philip Bowring

    ... Philip Bowring Philip Bowring is appalled by the report on fiscal planning that seeks to preserve the status quo, to protect mega infrastructure spending, yet utterly fails to address our critical challenges Another deficit of clear thinking In 40 years of covering Hong Kong budgets and fiscal issues, I have never seen a document as misleading and contentious as the report ...

  3. Business - Comment - JAKE'S VIEW

    Excessive caution leaves reserves going to waste

    Posted Mar 05th 2013, 12:00am by Jake Van Der Kamp

    ... Rowse did. We are now at about 17 months' worth of expenditure for that annus horribilis in 2004. In his miser's campaign to let no one touch his fiscal savings, our scrooge ... Jake van der Kamp Put that HK$1.6 trillion in savings to real work rather than squander it on needless projects Excessive caution leaves reserves going to waste There has been much talk ...

  4. Business - Comment - JAKE'S VIEW

    Time to put an end to the squandering

    Posted Feb 05th 2013, 12:00am by Jake Van Der Kamp

    ... There is good reason why they should be. As the second chart shows, our fiscal savings, taking unencumbered government deposits with the Exchange Fund plus the accumulated surpluses of the fund, have now crossed the HK$1.5 trillion mark. This is up from the 2003 low point of about HK$600 billion and amounts to fiscal savings of HK$630,000 per household in this town. It is an astoundingly ...

  5. Comment - Insight & Opinion - LEADER

    Hong Kong should revamp muddled fiscal structure

    Posted Feb 14th 2013, 12:00am by SCMP Editorial

    ... infrastructure projects. Fiscal savings now amount to more than HK$1.5 trillion. The government's argument that substantial reserves are necessary to defend the Hong Kong dollar against speculators, ... with what appears to be tradition, the HK$3.4 billion shortfall foreseen for the fiscal year ending in March will instead likely be a credit of between HK$50 billion and HK$60 billion, based ...

  6. Forget a banking union, only fiscal discipline can save the euro zone

    Posted Apr 28th 2012, 12:00am

    ... systems and the lack of fiscal union. This added a twist to the old argument that, for a single currency, you need a single fiscal policy. The argument for a banking union arose because European ... and, anyway, these local governments cannot run large deficits without approval from the centre. So should Europe have a banking union as well as fiscal union? My answer is that this debate ...

  7. News - Hong Kong - ON SECOND THOUGHT

    Stop saving for a rainy day when it's raining right now

    Posted Mar 07th 2014, 03:15am by ELIZABETH WONG CHIEN CHI-LIEN

    ... Elizabeth Wong Chien Chi-lien The government should use its funds to reverse our ageing population Stop saving for a rainy day when it's raining now Financial Secretary John Tsang ... Kong's high-value-added competitiveness are welcomed, the same cannot be said of his savings proposals to avert the risk of the government incurring a structural deficit in the medium to long ...

  8. Business - Comment - JAKE'S VIEW

    Long Hair's pension fund filibuster a grand idea

    Posted Apr 10th 2014, 12:57am by Jake Van Der Kamp

    ... stand at HK$1.65 trillion, which is 33 times more than Long Hair proposes for his universal pension fund. By free fiscal reserves I mean savings unencumbered by any other liabilities. Our total ... fiscal savings of the government and various statutory bodies plus the accumulated investment profits on these savings. It is like a general public savings account with the bank. But the one ...

  9. Fiscal savings rule a captive of the Basic Law, or is it?

    Posted May 01st 2007, 12:00am by Jake Van Der Kamp

    ... The International Monetary Fund has told us that we are perhaps being too prudent and too cautious about our fiscal savings. It told us in a paper published earlier this year that a level of fiscal reserves ... treatment of investment income by introducing a smoothing mechanism, as the IMF suggested. This means that we now maintain fiscal savings at a level almost double what the IMF thinks we need ...

  10. Comment - Insight & Opinion

    Risks of fiscal deficit are real enough in Hong Kong

    Posted Mar 16th 2014, 03:33am by Regina Ip

    ... Risk of fiscal deficit too real More than two weeks after the delivery of the financial secretary's budget for 2014-15, pundits continue to debate whether John Tsang Chun-wah was crying wolf in warning Hong Kong of an impending structural fiscal deficit and whether the warning masked officials' failure to formulate a growth strategy for the city. There are no lack ...




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