Why Did the 2011 Budget Enrage the Public?

Why Did the 2011 Budget Enrage the Public?

A 2 March 2011 Ming Pao editorial: with a bumper harvest (HK$93.8 billion surplus, HK$600 billion-plus reserves), John Tsang could have won applause — instead his “candies” sparked fury. Citizens resented the HK$6,000 MPF injection instead of tax rebates most; with a 6 March march looming, the government should soften its stance.

Why did the MPF injection anger people so?

The money was locked till retirement — distant water for a present fire; rebates would have helped now. Tsang first insisted the budget couldn’t change, then promised improvements — contradicting himself.

What did the editorial see as the real problem?

No rebates were just the spark; the real cause was misguided property policy inflating home prices. The administration needed to find what lay behind the anger, not just hand out sweets.

How should workers view the HK$6,000?

Mixed feelings — but MPF is your money either way. Tend it: compare MPF funds.