Band 9: In many countries, much money is spent by governments and individuals for national days such as new year and religious festivals To what extent you agree or disagree?

It is true that many nations allocate vast sums of public and private funds to commemorate national holidays and religious festivals, often at the expense of essential services and individual financial stability. I partially agree that while such lavish outlays can divert critical resources and impose burdens on households, they also generate meaningful economic stimulus and reinforce cultural cohesion.

Admittedly, excessive festival spending can indeed siphon off resources from more pressing societal needs and strain personal finances. When governments channel lavish budgets into elaborate fireworks displays and grandiose parades, the opportunity cost is clear: reduced allocations for healthcare and education undermine long-term public welfare. On the domestic front, low-income families frequently resort to loans to afford customary holiday gifts and festivities. This can precipitate enduring debt and financial insecurity long after the celebrations conclude.

Conversely, the economic and social dividends of festival expenditure are substantial and merit consideration. Regarding economic benefits, the surge in travel, food, and entertainment demand during celebratory periods provides an invaluable economic stimulus for local industries. This in turn drives a revenue boost for small businesses and sustains jobs that might otherwise falter. Beyond commerce, communal celebrations foster cultural cohesion and national identity. For instance, Lunar New Year reunions galvanise family bonds and intergenerational unity, thereby strengthening the social fabric that underpins societal resilience. Thus, I am strongly convinced that festival expenditure functions as a catalyst for both economic stimulus for local industries and the reinforcement of cultural cohesion and national identity.

In conclusion, although I acknowledge that excessive spending on public festivities can detract from vital services and exacerbate household debt, I also recognise that such expenditures play an indispensable role in energising local economies and nurturing communal solidarity.