Against more intervention

Leung Chun-ying is in the process of passing on his property review to the incoming Chief Executive, who will make a policy speech, at 10am, on July 1.

Tung Chee-hwa is playing his cards close to his chest. However, there is talk of the introduction of a short-term speculation tax. Hong Kong needs less intervention, not more and, given leaks on a more interventionist industrial policy, this bodes ill for Hong Kong.

Within 10 hours of taking over the throne we could well have a brand new type of tax and government involvement in about the only area they do not currently distort. Desist.

S. J. BROWN New Territories