West Kowloon investment mandate a ôfarceö
A letter to the editor from David Webb criticises the endowment approach underlying Hong KongÆs efforts to finance a new development project.
Editor: Regarding your article "West Kowloon authority changes tack, shortlists consultants", it is a farce that the West Kowloon Cultural Desert (sorry, District) has to manage this endowment at all. The government could have left the money in the Exchange Fund and provided funding for WKCDA against a budgeted plan, but they sensed that the Legislative Council was in a happy enough mood to give a lump-sum approval and this would avoid ever needing Legco approval again for financing W…
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