144.
As far as the management of public finances is concerned, I have stressed the need for continuity of policies. We have enjoyed remarkable economic growth and from this we have gained the resources to finance the many developments and public services that our community has rightly come to expect. But we must remember that the efficient provision of those services requires stable funding and steady rather than erratic development. The management of our public finances, given the cyclical nature of our economy, depends to a great extent on our continuing to pay close attention to trends and on the taking of early action where necessary to avoid more extreme measures at a
later date.
145.
The underlying trends now seem favourable, and it
it is for this reason that I have felt able to propose a budget that represents both further improvements in public services, and a
lowering of the burden on the taxpayer. But we must be cautious. Again, as I said at
as I said at the outset, our
subject to external
protectionism. We must
economy remains
factors, including the threat of
therefore be careful not to move too quickly in terms of committing ourselves to greater expenditure or foregoing revenue.
146.
Sir, let me finally conclude with this thought. Hong Kong will in the years ahead face many problems; but with courage, honesty and strength of purpose it will overcome them. In framing my proposals I have kept this simple truth in the
truth
forefront of my mind.
147.
Sir, I beg to move.
46
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