Philip Haddon-Cave

Sir Charles Philip Haddon-Cave, KBE CMG (Chinese: 夏鼎基; 6 July 1925 – 27 September 1999) was a British colonial administrator.

During his tenure of Financial Secretary, he famously coined the term "positive non-interventionism" as its chief principle, which has long-lasting effect on Hong Kong and world's economic philosophy.

First it recognised its budgetary and fiscal policies would affect the entire economy and that it had a responsibility to intervene in a limited fashion.

In August 1973, Governor Murray MacLehose and Haddon-Cave attempted to end the historic commitment to sterling reserves but the idea was rejected by London.

The British government offered a unilateral agreement in return to guarantee sterling balances at a new slightly higher rate.

He repeated his intention in the 1974 and 1975 Budget Speeches although no policies were implemented, which was thought to face the opposition from the business interests.

Although Haddon-Cave endorsed the Report to the Commissioner of Inland Revenue, the Committee's proposal to tax dividends was eventually abandoned, due to the opposition of the unofficial members of the Legislative Council.

He married Elizabeth Alice Simpson in 1948, who designed many of Hong Kong's commemorative coins, including the reverses of the "Return to China" set of 1997.

Many of Haddon-Cave's family and relatives still live in Hong Kong, including younger son Francis who was called to the bar in 1999.

[11] Economist Milton Friedman hailed Haddon-Cave's "positive non-interventionism" as a fairly comprehensive implementation of laissez-faire policy.

In his obituary, Haddon-Cave was regarded as "one of the architects of the stability and prosperity that the [Hong Kong] people enjoy now as an autonomous region of China."