SARS and the Economy

I would like to very quickly seek your views—in views of the SARS crisis—on what kind of “economic rescue” initiatives should be given by the Chamber to the government on dealing with the very depressed economic situation caused by the SARS problem. Hong Kong is in a very tough spot, not being able to see the light at the end of the tunnel as far as medical control of SARS is concerned, and being the victim economically from both the disease and the perceptions around the world. The low confidence of the Hong Kong people is another problem. As a result, our members are suffering badly business-wise, and this is why we want you to give us your suggestions. Therefore, if you have some ideas on what the Chamber should propose to the government and some justification for your ideas, please let us know immediately. Ideas could include policies on taxes, on fees and charges, rates, rents or anything else you can think of. You should be aware, however, that the government’s financial capability is limited, but any out-of-the-box but feasible ideas would be welcome at this time of crisis. The secretariat is compiling a list ourselves, and your additions would be most helpful. The Chairman’s committee will meet Monday to discuss these initiatives, and the General Committee will meet later in the week. In addition, the Chairman has a meeting with the Financial Secretary on Tuesday, when we can also give views to him. Please send us your views by this Friday evening, either by fax to me at 2527-7886, or by email to our Chief Economist at [email protected]. Thank you very much. I apologize if you are receiving this through fax and email, but we want to reach the maximum number of people in the shortest time. Please stay healthy. Regards, Eden Woon