Source:
https://scmp.com/comment/insight-opinion/article/2040366/ensure-accountability-when-subsidising-sports-and-cultural
Comment/ Opinion

Ensure accountability when subsidising sports and cultural events with public money

The Mega Events Fund expires in March and it’s still very much up in the air whether the government will continue with the scheme

For some events that are heavily dependent on the Mega Events Fund scheme, there is little incentive for them to explore other funding. Photo: SCMP Pictures

The government likes to position Hong Kong as the events capital of Asia, so much so that hundreds of millions of dollars have been set aside in a government funding scheme to finance key sports and cultural events over the years. While officials argue that the events help attract tourists and enhance the city’s international profile, prudent spending remains an issue of concern. With the scheme expiring in March, the question is whether it should be extended. If officials believe there is a case to continue the scheme, better supervision and safeguards are needed.