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South China Sea

Feeling of home will take more than cash

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Why you can trust SCMP

The number of words spoke for itself. Of the 174 paragraphs in the Policy Address, 55 came under the heading of 'Making Hong Kong an Ideal Home'. Mr Tung's thoughts on cultivating talent took up another 35 paragraphs.

Forget about the 32 paragraphs reviewing the SAR. The references were merely intended to make people believe issues such as rule of law and piracy had not been forgotten.

The priority was clear. If Hong Kong was to become a world-class city in the next millennium, there was little time left to cultivate the best talent and create the best living environment.

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With a $36.5 billion deficit forecast for this year, the Government was simply too cash-strapped to give more stimulants to the economy.

Perhaps more importantly, more interventionist measures would increase doubts about the cardinal principle of positive non-intervention.

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The Government made clear it now intends to take a back-seat to the private sector in rebuilding the economic powerhouse.

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