6.2.87
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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 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 the outset,
our economy remains subject to external factors, including
the threat of protectionism. We must therefore be careful
to move too quickly in terms of committing ourselves
to greater expenditure or foregoing revenue.
146.
Sir, let me finally conclude with the thought
that although I have this afternoon often urged caution, I
do not mean timidity. 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 forefront of my mind.
147.
Sir, I beg to move.
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