2011 Anti-budget demonstration
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2011 Anti-budget demonstration
The 2011 Anti-budget demonstration occurred in Hong Kong on 6 March 2011 due to dissatisfaction with the HK government's management of finance by Financial Secretary John Tsang. After 7 straight years of budget surplus, the government had a record HK$580 billion in reserve. But despite this, government members still refuse to address the income and financial inequality.[1]
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Cause
On 23 February 2011 John Tsang delivered the annual "2011-2012 HK Budget summary".[2] The HK government was under pressure to give some of the money back to the community. As part of the plan Financial secretary John Tsang proposed that HK$24 billion be put into a Mandatory Provident Fund.[3] This began a series of complaints and outrage.
Complaints and resolutions
The MPF fund is highly controversial. It was introduced in 2000 and has long been criticised as unfair.[4] The fund has a high management fee of 1.85%, in 10 years the fund providers have earned an estimated HK$33 billion.[4] Of the 19 providers, each earned an average of HK$1.75 billion, while the 2.5 million MPF investors have lost an average of HK$13,200.[4] The fund is similar to a long term 401k type account. Except the payout after age 65 could be very low depending on the investor and situation. The fund is also known for not covering certain demographics.[4] Only 2.5 million out of 4 million workers have MPF accounts.[1]
After complaints, John Tsang made a U-turn to cancel the MPF fund plan. Instead HK$6000 and other tax rebates were given out to HK permanent residents.[5] Citizens under the age of 18 cannot receive this fund.[6] In comparison, Macau have already been offering cash handouts since 2009.[7]
March 6 demonstration
Due to the mismanagement of the surplus, about 10,000 protesters showed up at Central to demonstrate. A march was held from Chater Garden to the Central Government Offices.[5] Two police officers were injured. Almost 100 protesters held sit-ins at the government office and Queen's Road.[5] Protesters shouted slogans saying John Tsang should step down and have no vision. Raymond Wong and Albert Chan also joined People Power protesters to do villain hitting against Donald Tsang and John Tsang.[5]
About 113 protesters were arrested.[8] At 9pm the protesters broke through a police cordon and stormed the traffic lanes of Des Voeux Road and Ice House Street. Situation became tense.[8] An 8-year-old boy was also pepper sprayed in the eye.[9] A request by 20 members of the League of Social Democrats to meet up with Tsang was denied. They left jasmine flowers under a tree and were carried off by police.[8]
Aftermath
In addition to the HK$6000 handout, the Pan-democracy camp also wanted three demands.[10]
- A universal retirement protection scheme
- HK$50 billion seed fund
- Resume the Home Ownership Scheme
The Home Ownership Scheme, introduced in the 1970s (under the British colonial government), basically offered affordable homes for people with low income.[11] This scheme was terminated in 2003.[12] Since then, the HK government has been known for colluding with real estate developers and rigging the property market. There were some discussion in trying to bring back the scheme in 2010.[11] Some examples of real estate corruption cases include Hung Hom Peninsula incident.[11] Former Chief Secretary for Administration Anson Chan have pointed out that giving $6000 is not the best option.[9] Lee Cheuk-yan have also said the money handout will not solve widening wealth gaps.[7]
References
- ^ a b "Budget that enriches financial elite sparks protest in Hong Kong". Wsws.org. 2011-03-17. http://wsws.org/articles/2011/mar2011/hong-m17.shtml. Retrieved 2011-03-27.
- ^ Legco.gov.hk. "Legco.gov.hk." Legco finance committee to scrutinize the 2011-12 budget next week. Retrieved on 2011-03-27.
- ^ South China Morning Post. "SCMP." Knee jerk government the last thing we need. Retrieved on 2011-03-27.
- ^ a b c d South China Morning Post. Poverty in old age a ticking time bomb. 22 March 2011.
- ^ a b c d "Budget bruiser". The Standard. http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=108828&sid=31546350&con_type=3. Retrieved 2011-03-27.
- ^ "政府直接派錢退稅估計涉及400億元". Rthk.org.hk. 2011-03-02. http://www.rthk.org.hk/rthk/news/expressnews/20110302/news_20110302_55_737768.htm. Retrieved 2011-03-27.
- ^ a b Mar 4, 2011 (2011-03-04). "Asia Times Online :: China News, China Business News, Taiwan and Hong Kong News and Business". Atimes.com. http://www.atimes.com/atimes/China_Business/MC04Cb01.html. Retrieved 2011-03-27.
- ^ a b c South China Morning Post. 113 arrested after anti-budget protesters clash with police. 7 March 2011.
- ^ a b "HK Citizens Protest Against Government’s $6000 Giveaway | AX3 | Global Asian Lifestyle + Pop Culture Webzine". Ax3battery.com. 2011-03-06. http://ax3battery.com/2011/03/06/hk-citizens-protest-against-governments-6000-giveaway. Retrieved 2011-03-27.
- ^ "Pan-democrats raging after Tsang `snub'". The Standard. http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=108915&sid=31571178&con_type=1. Retrieved 2011-03-27.
- ^ a b c Legco.gov.hk. "Legco.gov.hk." Legco finance committee to scrutinize the 2011-12 budget next week. Retrieved on 2011-03-27.
- ^ "Hong Kong Housing Authority and Housing Department - Home Ownership Scheme". Housingauthority.gov.hk. 2011-01-13. Archived from the original on 22 March 2011. http://www.housingauthority.gov.hk/en/residential/shos/hos/0,,,00.html. Retrieved 2011-03-27.
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