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How to put those piles of money to good use

15 0 1
28.08.2018

It is a law of human nature that when a government is sitting on piles of money, it will be wasteful and use it unwisely. So it’s inevitable that with its massive reserves, our government has been giving away money for years, with no good purpose, to people and groups that have no need for them.

Just think of the HK$6,000 cash handout for everyone, even the richest people. Or cash subsidies for the electricity bills of every household, even affluent ones.

Or the multi-year rates waivers, which saved our property tycoons and other big landlords hundreds of millions a year. Using the word criminal to describe such handouts may still be metaphorical, rather than literal, but only just.

Using such an atrocious standard of public funding pioneered by former finance secretary John Tsang........

© South China Morning Post