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Wednesday, March 13, 1974
Commenting on government spending, Mr. Woo said that at a
time when increased taxation was being discussed the need arose for
much closer control of government expenditure.
While the Financial Secretary had made the point that heads
of departments must keep to their budgeted sums and cut out unnecessary
waste of expenditure, Mr. Woo suggested that savings could be made for
instance in quartering leasing of accommodation, travelling expenses, and
consumption of stationery and office equipment.
Mr. Woo said the Financial Secretary's speech showed that Hong
Kong was or had almost come to the crossroads. "Gone are the days when automatic
surpluses provided for all our needs both for current and also for ravenue
capital expenditure. The pace of public spending is very much greater now."
He said all members of the community would inevitably have to
tighten their belts and adjust their standard of living.
"But the period of austerity need not be too long if we all pull
together, work somewhat harder and a little longer, and exercise economy
+
and restraint."
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