Corliss Online Financial Mag
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Another deficit of clear thinking, Financial Blog Corliss Online Group

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

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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

 

In 40 years of covering Hong Kong budgets and fiscal issues, I have never seen a document as misleading and contentious as the report of the Working Group on Long Term Fiscal Planning. It is a crude attack on health and welfare spending in order to find money for already bloated infrastructure spending.

 

To add insult to injury, the group is mainly comprised of officials and academics enjoying huge health and pension featherbeds at public expense.

 

The starting point for the report is true enough - that Hong Kong has an ageing population and one that is growing only slowly. This has been known long enough. The government has been aware that years of having a very low fertility rate has been a major factor in ageing - but has done nothing to address it.

 

The document goes on to present a scare story of ever rising deficits caused by a stagnating workforce and rising demands for health and welfare spending. Yet it accompanies this with projections for sustained increases in capital works. The non sequitur is backed by references to guidelines laid down by Philip Haddon-Cave in the 1970s - that public spending should be no more than 20 per cent of gross domestic product, and that there should be a significant surplus on the operating budget to provide funds for capital works (in addition to capital works paid by capital revenue).

 

Haddon-Cave, a realist, not an ideologue, would be appalled by official inability to see what has changed. Then, Hong Kong had a young, fast-growing workforce and the need for more infrastructure to support an economy based on manufacturing and merchandise trade. Today, we have no manufacturing, a port which is past its peak, and financial and other high-value services whose input needs are not primarily related to concrete.

 

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The Corliss Online Group Financial Magazine: "Financial Planning Tips"

The Corliss Online Group Financial Magazine: "Financial Planning Tips" | Corliss Online Financial Mag | Scoop.it

“Financial Planning Tips,” A New Article On Vkool.Com, Teaches People How To Create A Personal Financial Plan Easily - V-kool

 

The new “Financial Planning Tips” article on the site Vkool.com instructs readers how to create their own basic financial plan effectively.

 

Seattle, Wa (PRWEB) February 01, 2014

 

The new “Financial Planning Tips” article on the site Vkool.com delivers to people helpful tips on how to create a financial plan within a short period of time. At the beginning of the article, the author recommends people to determine their current financial situations. People need to have a thorough understanding of their current financial situation in order to formulate well-informed and realistic goals. Moreover, if people take a detailed look at their situation, they can identify specific changes they could make to change their situation and achieve their goals. Then, the author indicates that setting goals are important and usually used to measure success. The earlier people start planning for their financial future, the sooner they will reach their goals. Developing goals will give people a direction for their plan and a destination toward which they want to head. The goals should be measurable, specific, attainable, specific, realistic, and time-based. There are different types of goals, including short-term, intermediate, and long-term goals. When people develop each of these goals, they will achieve successes early in their plan while still keeping their eyes towards the future. Furthermore, when creating the financial goals, people should consider some obvious objectives, such as retirement investments or monthly savings. They also need to differentiate between necessities and wants in order to establish priorities effectively.

 

Additionally, this author indicates that people should know their weak points in order to avoid the triggers which make them spend more or save less. In fact, life is about change. Good or bad things could impact their financial planning. Therefore, planning for the unexpected could reduce the effects of disastrous events, including a house fire, a job layoff, or a chronic illness. In addition, the writer encourages readers to take advantages of retirement investment options in order to avoid making hasty decisions. In other words, this writing covers many other financial planning tips that people can apply instantly. After the “Financial Planning Tips” article was launched, a large number of people can create and implement their financial action plan effectively.

 

Quyen Dang from the site Vkool.com says that: “The new “Financial Planning Tips” article is actually informative that includes a lot of cutting-edge techniques on how to find life purposes quickly. The techniques this article delivers are simple-to-follow for most people regardless of their age and their gender.”

 

If people want to get more detailed information from the full “Financial Planning Tips” report, they should visit the website: http://vkool.com/financial-planning-tips/

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About the website: Be developed by Tony Nguyen, Vkool.com is the website providing readers with useful tips about many subjects, including health, fitness, entertainment, and lifestyle. Readers could send their ideas to Tony Nguyen on any subjects via email.

 

For the original version on PRWeb visit: http://www.prweb.com/releases/financial-planning/tips/prweb11538419.htm

 

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