Letter to Hong Kong (2007-03-11)

Dear Yan Yan,

On 28th of February, the Financial Secretary of the Hong Kong Special Administrative Region, Mr. Henry Tang, delivered his budget speech. If you pay attention to the timing of the budget speech, you would notice that it was made in February. For most governments, even in past Hong Kong history, the budget was usually announced in early or mid-March.

As I see it, the reason for the early delivery was that the Administration wanted to use the budget to create a more favorable atmosphere for Bowtie Tsang ’ s re-election campaign. The budget speech was presented one day before the first chief executive election debate. The strategy worked, for Bowtie ’ s popularity rate went up 8 percent. The budget has successfully helped Bowtie raise his popularity. In the past, the Administration always accused us of politicizing events and issues. To them, “ politicization ” is a dirty word. However, the trend seems to have changed. It is now that the Administration who likes to use administrative means for political ends. The annual budget speech has become a tool for Bowtie ’ s re-election campaign.

As for the budget itself, I was very disappointed by Mr. Tang ’ s overall approach. Since this was Mr. Henry Tang ’ s third budget, I had expected that he would do something meaningful for Hong Kong ’ s failing industries, especially in the formulation of new policy and strategy in the redevelopment of Hong Kong ’ s industrial bases. Compared with previous financial secretaries, Mr. Tang is the only one who has had direct and actual experiences in industrial management and development. It would therefore be reasonable to expect him to put forward something meaningful to facilitate the redevelopment of Hong Kong industrial bases. Unfortunately, my expectation has turned into disappointment. Perhaps I should not be so naive. I was told by an old friend many years ago that in Hong Kong, the industrialists ’ second generations have a tendency either to become property developers or playboys, and few of them would have the commitment and vision of their ancestors. When success and money come too easily, people tend to lose their roots.

As for the overall budget proposal, there wasn ’ t any surprise, because the government had leaked a great deal of information to the press before the formal announcement. It was reported earlier that the Government would reduce tax, provide rate exemption, and increase public expenditures in education, health, and welfare. It was a known fact that the administration will be giving out sweets and candies to people from all walks of life.