The objection related to the Ministry of Finance will put politics above the health of the economy, instead of dealing with persistent inflation.
Finance Minister John Tsang has just released his 2011-12 budget speech this morning. Before dealing with housing and related policies must be considered part of the budget (reflecting only what interests me) points.
Before the declaration, the Financial Secretary spent some time blogging. One point he made in his blog, was to make good use of government surpluses. As I said in my Hong Kong property market forecasting, revenue from the sale of government land has reached a record level last year, so naturally the budget will be a large surplus this year. As a result of uncontrollable factors such as monetary policy (or lack of an independent monetary policy because of the peg), fueled home prices and the general decline in upward mobility and inequality, politicians hope that the government use the surplus expected to help poor families. But his blog seems to imply that the Conservative government will be in using the surplus to build enough buffer to prepare for any eventuality. This could be the strategy to lower expectations so far to give money is involved.
In another post, he mentioned the concept of "Great Society", which incidentally reflects the Prime Minister of Great Britain, David Cameron, MP has spoken of the end.
Tags: 1, 16, 293, Business, Cathay Pacific Airways Ltd, Cheung Kong (holdings) Limited, CHEUY, CPCAY, HANG SENG INDEX, HangSeng, hong kong budget, Hong Kong Budget 2011, Hong Kong shares edge lower ahead of budget speech, John Tsang, News & Politics, Property Market, Shanghai SE Composite, SHCOMP, SUHJY, Sun Hung Kai Properties, The Financial Secretary, the Government Budget for 2011-12, Zarathustra W
