AL president casts doubt over investment fund

The AL President has said that he doubts Chui Sai On’s electoral promise to create an investment fund based on financial reserves. Ho said that caution is needed with high-risk investments, and stressed that the government should negotiate a reasonable interest rate with banks instead.
“We have to adopt more secure plans, maybe negotiate with banks to have a higher interest rate. I think high-risk investments are not pertinent. Only when you have financial stability, then you can stand with a certain level of risk. With fluctuations and instability, we [cannot] continue to invest in high-risk plans. I don’t think it’s adequate,” he stated.
Given that the current budget guide is too general to execute, and demands more detailed administrative regulations in order to be accomplished, Ho expressed the wish to make a complete budget act for the MSAR before his term ends. According to Ho’s plan, the law should include the AL’s scope of authority, which legitimates the Assembly to review. Furthermore, referring to the act in the mainland, he believes that a punishment scheme should be added in the future law.