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  • October 24, 2014
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  1. 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 ...

  2. 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 ...

  3. 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 ...

  4. 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 ...

  5. News - Hong Kong - POLITICS

    Filibustering lawmakers say fiscal crisis is government bogeyman

    Posted May 19th 2014, 05:07am by Olga Wong

    ... Olga Wong olga.wong@scmp.com Filibustering lawmakers behind a budget impasse say city's fiscal crisis is a government bogeyman Glass half empty, glass half full Hong Kong ... group's 252-page report on fiscal projections in March. The report said Hong Kong could become as heavily indebted as Greece if nothing was done to address the long-term fiscal deficits expected ...

  6. 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 ...

  7. Lifestyle - Books - FINANCE

    Book review: Saving the Market from Capitalism, by Massimo Amato and Luca Fantacci

    Posted Aug 17th 2014, 08:02am by David Wilson

    ... David Wilson Saving the Market from Capitalism: Ideas for an Alternative Finance by Massimo Amato and Luca Fantacci Polity Despite its liquid nature the fiscal system is set in its ways- and it needs to change, say Italian economists Massimo Amato and Luca Fantacci, who address some problems buoyed by liquidity. Their check-list includes the rise of fiscal instruments divorced from ...

  8. 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 ...

  9. 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 ...

  10. Beijing keeps faith with proactive fiscal policy

    Posted Jul 28th 2010, 12:00am by Cary Huang

    ... Cary Huang in Beijing China will make its 'proactive fiscal policy' more flexible in the second half of the year after revenue soared in the first six months, Finance Minister Xie Xuren said yesterday. The government would push ahead with programmes to stimulate domestic demand, Xie said, as his ministry announced the 27.6 per cent year-on-year rise of fiscal ...




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