The rich-poor gap in Hong Kong is daunting. While one in five people in the city is considered poor, a recent survey found that about one in seven are millionaires, defined as those with liquid assets – deposits, mutual funds and stocks and bonds – of HK$1 million. Photo: AFP
Stephen Vines
Opinion

Opinion

The View by Stephen Vines

With its huge reserves, Hong Kong should consider a cash ‘inheritance’ for its young people  

Stephen Vines says giving one-off budget ‘sweeteners’ is not an effective way of sharing the wealth. With no public spending reform or universal pension scheme, the next best way may be an idea first proposed by a British think tank: a publicly funded ‘inheritance’ for, say, all 25-year-olds

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The rich-poor gap in Hong Kong is daunting. While one in five people in the city is considered poor, a recent survey found that about one in seven are millionaires, defined as those with liquid assets – deposits, mutual funds and stocks and bonds – of HK$1 million. Photo: AFP
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