How to Achieve Fiscal Balance

Chan Wing Luk (Financial Commentator): I always say that knowing the right time to buy and sell shares is an important rule of investment. Don't follow the market blindly and set your own reasonable targets.

The government also has to follow strict principles in managing public finances. It must make both ends meet. The public interest is not served if the government simply spends without due regard to the overall fiscal position.

In meeting the needs of the public, the government has to formulate priorities and objectives. It has to be a prudent fiscal manager. The best interests of society are only met when the government has a set of objectives and principles.