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September 01, 2004

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Fudging numbers

A quick lesson in economics for the HK Government. If you issue HK$20 billion in debt, it is not correct to then say your budget deficit is only HK$5.3 billion instead of the true figure of HK$25.3 billion.

If only I were the HK Government I could borrow my way to great fortune and declare myself a millionaire. The problem, the HK Government will find, is the money they borrow doesn't come for free. They have repayments to make, so in reality all they have done is recieved a chunk of money now in return for paying a bigger chunk of money over the future. Has anyone in the SAR Government studied high school economics? Apparently not.

 posted by Simon on 09.01.04 at 11:23 AM in the




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