What can the government do for its city’s economy? I think the key word, urban redevelopment, is crucial in this given question. There are couple of things the government could do to help improve its city’s economy/GDP. As the world grows, economic development of a country is not all about simulating economics growth or increasing GDP, it’s all about building a place for people to live in or for talented people to come over and make this place their second home. This could be achieved by, 1. Attracting more tourists into the country to increase tourism spending hence, the growth in city’s GDP or 2. Providing tax incentives to people setting up business in the country and 3. Urban redevelopment and at the same time protecting historical buildings or monuments. So why is promoting tourism a boost to the city’s GDP, one may ask. Firstly, promoting tourism in a country creates demand for goods and services, and when goods and services increase, it will trigger activity in the local market and therefore an increase in the GDP. Not only tourism helps increase a city’s GDP, but also helps create job opportunities to local residents, thus, eliminating unemployment rate. Smaller companies or small trade shops selling souvenirs will also survive due to tourists buying gifts back home. Secondly, I believe the government should provide tax incentives to people setting up new business in its country. By providing substantial but not significant (considering long term when it’ll be a drag to tax payer’s money) tax incentives to people setting up businesses, it’ll attract more business in the city and also expanding operations, thus, a boost to the city’s economy. Thirdly, redeveloping and maintaining areas which are old in age. Why is there a need to up keep houses or buildings that old in age? Buildings or houses that are old in age tend to be vulnerable to fire hazards and other potential hazards. The government can stagger this maintenance into different phases, such as looking into the districts in HK, determining the estates that desperately need the up keep work. This work will utilize taxpayer’s money but if it provides a safe and sound environment for all to live in, I don’t see why not. If there is a need to redevelop areas in certain districts, I will think that the Shop for Shop, or House or House idea is feasible. I’d think it’s a fair idea if the total valuation of the shop matches on par with the replaced shop or the valuation of the house matches on par with the replaced given house. Of course, if one were to talk about fairness in this issue, we’ll never be able to reach an agreement or to resolve this, because one may argue that there might be still an emotional attachment towards the place/house. If the government were to listen to its citizens, eg. Take H15 Lee Tung Street project, as an example in this case; when an architect came out with the “Dumbbell” proposal, the government eventually turned it down without asking its citizens for opinion. I believe that as much as the government can do so much for its city’s economy, it still boils down to how much they want and can listen to its citizens. Of course, if the government were to free up more jobs and help its people, we’d be happy but sometimes, asking its citizens for opinions or setting up a road show to inform its people about projects, would be much welcome and appreciated. (3440)
Posted on: Sat, 08 Mar 2014 12:14:04 +0000
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