Unravelling the spin behind Hong Kong's third airport runway

Many good questions have been raised about the proposed third airport runway, and it behoves the authorities to answer them.

But in the typical fashion of arrogant bureaucrats, aviation and development officials have mostly brushed them aside. This is not to say building a new runway is not justified, but given the HK$141.5 billion price tag - probably still an underestimate - the Hong Kong public deserves detailed accounting, not vague assurances and promises.

First, the user-pays principle combined with self-financing announced by the Airport Authority and the secretary for transport is seriously suspicious. Supposedly, it would not cost taxpayers a cent. Instead, financing will involve a passenger charge of HK$180; the authority's projected surpluses over 10 years of HK$50 billion; and bank borrowings and the issuance of bonds.

It sounds great, except an airport and its runways are public utilities. People benefit even if they don't fly. So the user-pays principle is hardly appropriate. It's being sold to create the impression that the government - and therefore taxpayers - won't pay.

But this is not true. The authority at the moment passes on most of its annual profits as dividends to the government, its sole shareholder. Under this new financing arrangement, it gets to keep all the profits. Why all this accounting sleight of hand? It appears the sole purpose is to avoid the need to seek funding approval from the legislature and its troublesome members. We are paying; it's just that the government is fudging different accounting items.

Second, the existing two runways may be reaching capacity, but the projected increases in passengers and cargos seem vastly optimistic about the way our economy is heading. But even if we accept the guesstimates, former civil aviation and Observatory chiefs have said the mainland-controlled airspace over the Pearl River Delta region is already crowded and restrictive, including priority being given to military use.