Chief Executives Face Pressure to Move from Expensive Office in Hong Kong
Criticism Over High Office Rental Costs
Chief executives in Hong Kong, notably Carrie Lam Cheng Yuet-ngor, are facing increasing pressure to relocate as the government eyes substantial savings amid a significant fiscal deficit.
The Financial Burden of Lam's Office
Currently, Lam's office at One Pacific Place incurs an annual rent of HK$5.67 million (US$730,000), raising concerns about public expenditure.
- Lam's office cost taxpayers an estimated HK$9.17 million in total last year.
- Dominic Lee Tsz-king of the New People's Party has proposed moving to more affordable government premises.
- The lease for the prime location expires in mid-2025.
Calls for Budget Management
As the government grapples with a deficit of HK$183.9 billion, lawmakers stress the need for prudent financial management.
- Lam's office rental represents 44% of the combined expenditure for all four former leaders.
- There are proposals to consolidate offices to cut operating costs.
- Discussion surrounds whether shared spaces could effectively reduce overheads while fulfilling necessary functions.
Ultimately, the government is expected to announce arrangements regarding Lam’s office in due course, aiming for prudent expenditure as discussions continue.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.