CY Leung ally slams 'foolish' HK$200b fiscal giveaway

Property tycoon Ronnie Chan Chi-chung stepped up his war of words with John Tsang Chun-wah yesterday, claiming the financial secretary's dishing out of sweeteners worth nearly HK$200 billion in recent years was "foolish".

Chan, chairman of the Hang Lung Group and a key supporter of Chief Executive Leung Chun-ying, said the money would have been better spent on schools, hospitals and offices.

He followed up his remarks on Tuesday - when he said Tsang was a "big sinner" - by saying the cash could have built 30 Universities of Science and Technology or 30 Queen Mary Hospitals. Tsang hit back on Wednesday by describing Chan's comments as "too much".

In his latest attack, Chan said Tsang kept giving handouts because he feared public criticism.

"He should do the right things for the overall interests of Hong Kong, rather than his own selfinterest. It was foolish for him to keep on handing out goodies," Chan said.

"More shopping malls, exhibition halls and office spaces could be built on the Kai Tak site to push down operating costs for the business sector."

Since the 2007-08 financial year, the administration has handed out HK$170 billion in one-off relief measures.