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Financial Secretary Henry Tang Ying-yen  beamed his trademark, broad smile as he delivered the fourth and final budget of his current term last Wednesday.

Bombarded by journalists' questions about his post-July 1 political fate, he stuck religiously to the pledge of 'getting my job done' until June 30 - when his term expires.

But few, if any, have the slightest  doubt about what his  political fortune holds after July 1, in the new administration.

Mr Tang has been echoing the headline-grabbing slogan of Chief Executive Donald Tsang Yam-kuen's election campaign: 'I'll get the job done.'  That conveys a not-so-subtle message about his political ambition.

If he is given the chance, Mr Tang seems well prepared  to join the next administration after Mr Tsang's almost universally expected re-election in the March 25 election.

So he was sharply aware of the importance of not giving the impression that he was delivering his farewell budget speech last week.

In line with his cautious, no-frills working style, he  avoided stirring up any controversial questions about his success or failure since taking the hot seat vacated by  Antony Leung Kam-chung  in August 2003.

He has shown restraint, claiming credit neither for eliminating  the chronic deficits that beset Hong Kong after the financial turmoil of the late 1990s, nor for putting public finances back on the path to surplus.

He did not utter a word of frustration over his failure to convince Hongkongers of  the merits of a goods and services tax last year.

Stating  his intention of 'leaving room for the next government', Mr Tang stayed clear of fresh ideas for infrastructure developments, models of health-care financing and options for broadening the tax base.

Critics may, rightly, dismiss his blueprint as being too shortsighted, with no long-term visions. But even that  says a lot about the conservative, cautious political style of the businessman-turned-politician.

He  dug  deeply into last year's fiscal surplus to 'share the wealth' with people in this year's budget. But he still left ample room for Mr Tsang to hand out goodies - such as a cut in the profits and salaries tax rates - in his next term.

Politically, Mr Tang  cleared the stage for Mr Tsang to give a go-ahead to major projects when he sets out his policy blueprint for the next five years in his policy address next October.

Given his political style,  Mr Tsang has  probably not made a formal offer to Mr Tang  to sit in his next cabinet. But, in view of Mr Tang's approach  in his budget,  there seems to be a tacit understanding between the pair to  prolong their partnership for five more years.

Barring unexpected developments, it looks certain that Mr Tang will  be able to at least keep his present job in the next administration.

Despite  criticism that a lot of people were left out of his  HK$20 billion package of tax concessions, opinion polls have shown an overwhelming level of support for the latest blueprint.

Political parties may continue to press the government  to spread the benefits of its windfall surplus to all Hongkongers.  But when it comes to  the budget vote,  they seem unlikely to  veto it even if the government offers no more goodies.

The largely positive feedback to the budget will  boost  Mr Tang's chances of  jockeying for the No2 post in the cabinet -   chief secretary.

This is despite the fact that  Mr Tang's ability to handle the complicated power politics within the bureaucracy is not beyond doubt.

Not surprisingly, the embarrassing failure of the consultation exercise on a GST has raised serious questions about his political judgment and skill.

But, as the departure of Chief Secretary Rafael Hui Si-yan  looks certain, Mr Tang will be in the right place at the right time to bid for that position.

That would put him one  step closer to the post of chief executive - to which he has long aspired.

Chris Yeung is the Post's editor-at-large



Message behind  the budget