The Hong Kong government’s former reputation for fiscal prudence and good budget management is in ruins. The latest bail-out plan for its Mass Transit Railway Corporation entails not only throwing another HK$19.6 billion of public money at the quasi-public rail and property development company but rewarding its shareholders for the company’s incompetence.
Hong Kong Prudence Down the Toilet
Hong Kong Prudence Down the Toilet
Hong Kong Prudence Down the Toilet
The Hong Kong government’s former reputation for fiscal prudence and good budget management is in ruins. The latest bail-out plan for its Mass Transit Railway Corporation entails not only throwing another HK$19.6 billion of public money at the quasi-public rail and property development company but rewarding its shareholders for the company’s incompetence.