Maverick tycoon shuns Tsang's charity for poor
Maverick tycoon Ronnie Chan Chi-chung lived up to his reputation yesterday when he became the first leading businessmen in Hong Kong to publicly declare that he would not be donating to the newly set up Community Care Fund for the poor.
Hang Lung Properties' chairman, known for his outspoken views on many topics, said: 'I don't know where my money will be spent,' before adding that he would prefer to donate directly to needy groups.
His comments have fuelled speculation that the new fund - in which the government is pledging to give a dollar for each dollar donated from the business sector, with a cap of HK$5 billion - is being treated by businessmen and politicians as a political tool in the race to become the next chief executive.
Since Chief Executive Donald Tsang Yam-kuen announced the fund in last week's policy address and put Chief Secretary Henry Tang Ying-yen in charge, leading tycoons have been queueing up to chip in.
Among them was Li Ka-shing, of Cheung Kong (Holdings), who has pledged HK$500 million, while Lee Shau-kee, chairman of Henderson Land, and the Kwok Foundation of Sun Hung Kai Properties, each promised HK$400 million.
Yet critics have questioned the rationale behind putting Tang - considered a frontrunner to succeed Tsang - in charge of the fund.
A business-sector politician said Chan's decision not to contribute to the fund reflected the politicisation of the donation scheme and pointed to what he described as Chan's close links with Executive Council convenor Leung Chun-ying - who is another front runner in the race to become Hong Kong's next chief executive.
'Everybody knows on which side Ronnie Chan stands,' the politician, who preferred not to be named, said.
Chan said he agreed with the principle of helping the poor, but questioned the fund's effectiveness.
'I can donate money directly to the universities or Youth Outreach,' he said. 'I have talked to the [Hang Lung] board. We don't think we have to make the donation to the fund.
'Hong Kong's success was built on a free economy and simple taxation. If businessmen are forced to donate, it will be a kind of tax.'
He added: 'It would be better to make a private donation instead of donating money under the company's name; The [company's] money belongs to the shareholders - not the management.'
Meanwhile, in a meeting of the Legislative Council's welfare panel, Tsang Tak-sing, Secretary for Home Affairs, said details of the fund would be released after a period of public consultation.
People would be able to express their opinions about the fund's structure and whether the government should put in an equal amount of public money to match donations from the commercial sector, he said yesterday. 'Whether the government should pay more [than HK$5 billion], is definitely something we can think about,' he said.
Yet lawmakers said the government should plug loopholes in the welfare system and extend help for new immigrants, instead of introducing more funds. 'If the government believes the rich should pay more for welfare, then it should introduce a progressive profit tax,' unionist lawmaker Lee Cheuk-yan said.
