Balancing HK's big finances, small gov't

Shortly after the Hong Kong government announced its budget for the current fiscal year, Anthony Cheung, a member of the executive council, the policy making agency, posed the question: "Are we really all that rich?"

By "we", Professor Cheung, a founder of the policy think tank SynergyNet, was obviously referring to the government, which has proposed, among other things, a tax rebate totaling more than HK$20 billion ($2.63 billion).

The Hong Kong people's gratitude to Financial Secretary Henry Tang was reflected in a distinct boost in his post-budget popularity rating. But we praise the government and Tang as much for their commitment to small government, which is a cornerstone of a long-cherished economic policy.