• Sat
  • Dec 20, 2014
  • Updated: 4:16pm

Fiscal Savings

Excessive caution leaves reserves going to waste

Excessive caution leaves reserves going to waste

Needless to say, our excessively cautious financial secretary does not agree. One of the reasons he cited in his budget speech for not touching the reserves is that in 2004 they dipped to only 13 months' worth of expenditure. Oh, the horror.

Tuesday, 5 March, 2013, 5:06am 4 comments

Hong Kong should revamp muddled fiscal structure

John Tsang Chun-wah, Financial Secretary. Photo: May Tse

The huge budget surpluses that Hong Kong regularly clocks up are a wonder to governments elsewhere. While they struggle to balance their books, our coffers are positively bulging, and increasingly so each year. Such abundance is a welcome cushion for an economy so exposed to outside market forces. But the way it is generated, the manner in which it is managed and how it is dispersed are an embarrassment and a shame. A financial system that is strait-jacketing our future has to be reformed.

14 Feb 2013 - 1:30am

Time to put an end to the squandering

Time to put an end to the squandering

Clear danger government bureaucrats may spend our budget surpluses on big infrastructure projects that are not worthwhile.

5 Feb 2013 - 5:05am 5 comments