Financial Secretary John Tsang Chun-wah was stating the obvious when he said that a pay cut by the chief executive and his team would help little to bolster the economy. Mr Tsang was responding to a call by a student on Saturday at an RTHK forum on his upcoming budget.
The student said the leaders should take the initiative with a gesture of solidarity during these difficult times by slashing their pay 20 per cent.
Such a reduction by Donald Tsang Yam-kuen and his principal officials would save about HK$16 million a year. Total annual public spending is about HK$200 billion.
It is equally obvious, nevertheless, that the effect of a pay cut in times of adversity by the top echelon in Hong Kong, like in other places, would be purely political.
The crux of the matter is therefore whether the initiative would bring political benefits to the government and society as a whole.
Compared with the magnitude of other problems on his plate, there is no denying that the issue ranks low on the financial chief's priority list. Among other things, John Tsang will have to make an educated guess about the economic scene at the global, regional and local level.