In today's edition of the Hong Kong Standard, commenting on whether the government should cut taxes or not, HK Institute of Certified Public Accountants chairman Paul Chan suggested caution with tax cuts. Read it here.
His argument is that "our economy is sensitive to external factors and greatly influenced by the US and the mainland economies, we must be prudent."
Paul, do you mean that money left in the government's vault can help counteract the influences of these external factors then? If so, why do you think the government is better able to spend our money in counteracting the negative effects of these external factors than we do?
Or, do you mean that these external factors will simply go away as long as money is left in the government's vault rather than in our wallets through tax cuts ?