Australian Pre-election Economic and Fiscal Outlook (PEFO) has been released by the Departments of Treasury and Finance on Tuesday.
Whilst the Legislative Council (Legco) remained stagnant in passage of the fiscal budget for the city, Hong Kong’s Secretary for Finance John Tsang vented disappointment over the delay, and described the Hong Kong government as a “vault without key”.
U.S. President Barack Obama made a major concession to Republicans Wednesday by calling for cuts in Social Security and Medicare during an ongoing budget battle in Congress.
U.S. President Barack Obama unveiled his 2014 budget Wednesday, aiming to rein in the deficit by raising taxes on the affluent and curbing government spending on programs including Social Security and Medicare.
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