Hong Kong Banker Calls For Taxpayer Representation In LegCo
A senior Hong Kong banker is pressing the SAR’s government to create an
allocation of seats within the Legislative Council to give taxpayers more
of a say in the running of the city.
Chester Kwok, a managing director at investment bank Credit Suisse First Boston,
believes inadequate representation is given to Hong Kong’s middle classes
who contribute around 80% of the government’s total tax take. The middle classes in Hong Kong are defined as those earning more than HK$300,000
(US$38,500) per year. “The aim of my proposal is to empower middle class representation
in the LegCo,” stated Kwok, telling a news conference that he has twice
attempted to persuade the government to include five new functional constituency
seats representing taxpayers. Kwok believes that the current political system is unfairly weighted towards
looking after the interests of the low paid who contribute relatively little
in terms of tax. He cited the high profile postponement of the Link Reit, which
has been halted due to a challenge by government housing tenants as an example. Under the current electoral system in Hong Kong, 30 seats in the LegCo are
chosen in a free vote, whilst the remaining 30 seats are allocated to functional
constituencies representing various interest groups such as lawyers, business
associations and teachers. Kwok now plans to lobby the political parties in an attempt to win support
for his idea. .
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