Wednesday, February 07, 2007

Hong Kong in Japan's Footsteps

Our Chief Executive (CE) hopeful (and incumbent CE) Donald Tsang was quoted as saying:

"Chief Executive Donald Tsang Yam-kuen yesterday pledged to increase infrastructure spending to create job opportunities... He said that each year the government set aside about HK$29 billion for infrastructure, but might only spend "$25 billion, $24 billion, $23 billion"...He said the government should return infrastructure spending "to the right level" and he hoped to create a development bureau to oversee the execution of infrastructure projects. "

Read the story here.

But why stop there? If government spending is such a miraculous tool to create jobs, why fix the cap on such spending at HK $ 29 billion? Why not raise that "right level" to HK $ 59, $ 69 and $ 79 billion so that more jobs could be created?

By the way, WHAT is the "right level" and WHO is to decide what is the "right level" anyway?

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