My Take | Why John Tsang would be a worse leader than CY Leung
Hong Kong’s finance chief has consistently been wrong on budget forecasts, missing the chance to introduce policies that could lead to a better future
Our financial secretary is one of a handful of public figures being floated as a potential chief executive candidate. There is no doubt that John Tsang Chun-wah has consistently been among the least unpopular top officials within the Leung Chun-ying administration.
Yet I believe Tsang would be far worse than Leung as chief executive. People may hate Leung for his style and personality. But Tsang is part of the governing elite whose policies have contributed directly, over many years, to the social malaise and unrest that plague Hong Kong today.
Just to be fair, let us confine ourselves to financial matters only.
Since he took office in 2007, Tsang has cried wolf repeatedly about government deficits. Not once did his prediction pan out. Often, the government ended up with an embarrassment of riches. According to a Legislative Council study, he underestimated revenue by a total of HK$582 billion up to 2014.
A better forecast would have – could have – meant better planning and social investments for Hong Kong people. But once you make everyone fret about deficits, you shut them up for trying to suggest improvements and discredit those who do try as irresponsible.