Lion Rock's Newsletter
The budget has been announced on Feb 23. Many members of the Legislative Council were very dissatisfied, as well as Hong Kong Residences. Because of the reaction, an amendment was announced last week. The Lion Rock Institute welcome the Tax Refund, but not the $6000 handout to every adult Hong Konger, even the details has yet been confirmed. This will surely destroy the principle of financial management of Hong Kong Government. Also an awful precedent to Hong Kong, benefit to those who complain the most!
During the protest on Mar 6th. There was a young boy, asking for handout to the children too, in front of the camera. The Lion Rock Institute is very worried that the society has forget about the founding principle of Hong Kong, more to those who work harder (多勞多得). We hope that this young boy, is only an exceptional case in thousands of Hong Kong Children.
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The Lion Rock's Roar
In his column in HKEJ, Peter Wong expressed his anger about MPF, just before the budget was announced, the government has announced that the upper limit of MPF contribution will rise to 30,000 from 20,000, which means that the employees, 480000 of whom will be affected, will receive 1,000 less in disposable income in the worst case. Peter Wong said that this is a collusion and corruption between the Government and the Fund Managers.
Andrew Shuen Pak-Man expressed his concern about the inflation linked bonds, announced in the budget. he argued that the i-bond will not be helpful to those people who are in need. Investing in i-bond would not be a good investment, and this kind of bad investment would lead to poor distribution of resources in the society and harm the economy eventually.
Simon Lee expressed his anger about the budget, and the MPF in many of his articles published recently. He was so angry about the MPF as the MPF is something that cannot help the employees at all, but a corruption between the Government and the Fund Managers. He asked the Government to have a comprehensive review of the MPF, and abolish this bad policy.
Events
Upcoming Events: Happy Hour Mar 24, Thursday
This month's Happy Hour takes place on Thursday, Mar 24, 6:30pm - 8:30pm in The Globe, Graham St, Central. We welcome you to come and share your ideas with Lion Rock associates and friends over a tasty beverage!
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The Lion Rock Institute, Hong Kong's leading free market think tank, is dedicated to the value of freedom and upholding the interests of Hong Kong's future.
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