Call for 'better use' of reserves
23-02-2009
Legislative councillor, Cyd Ho, says the government must make better use of Hong Kong's huge fiscal reserves during the current financial crisis and making fighting unemployment the number one priority. The Civic Act-up lawmaker said that in the face of the 'economic tsunami', the administration should provide more short-term relief and invest in sustainable development. Speaking on RTHK's Letter to Hong Kong, Ms Ho also said it was time for an in-depth public debate on the future direction of fiscal policy. She said subsidies for so-called grass-root, or low-income, workers would have a greater impact on the local economy than tax-cuts for the better-off. This was because those trying to make ends meet were more likely to spend their money in Hong Kong.
