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THURSDAY, APRIL 3, 1975
1975 BUDGET GEARED TO REALITY
X X X X X
THE FINANCIAL SECRETARY, THE HON. PHILIP HADDON-CAVE, TODAY MAINTAINED THAT THE BUDGETARY AND FISCAL POLICIES LAID DOWN IN THIS YEAR'S BUDGET WERE REALISTIC IN THE PRESENT SITUATION OF WORLD ECONOMIC RECESSION.
WINDING UP THE DEBATE ON THE APPROPRIATION DILL 1975, HE TOOK STRONG EXCEPTION TO REMARKS DY SOME UNOFFICIAL MEMBERS WHO HAD BRANDED THE GOVERNMENT LAISSEZ FAIRE' AND 'A STOP-GO GOVERNMENT.'
*IN MY VIEW, MR. HADDON-CAVE SAID, AN OBJECTIVE_DESCRIP- TION OF OUR POLICIES WOULD BE REALISTIC ́ PRAGMATISM, HOT LAISSEZ-FAIRE - THOUGH IF BY LAISSEZ FAIRE IS MEANT AN ADSENCE OF BUREAUCRATIC SPRAWL, I WOULD NOT BE TOO DEFENSIVE ABOUT THE LABEL.+
THE FINANCIAL SECRETARY POINTED OUT THAT THE GOVERNMENT HAD REPEATEDLY, OVER MANY YEARS, STRESSED THE IMPORTANCE OF STEADY PROGRESS AND THE CONTINUITY OF POLICY. +AND IT IS THIS EMPHASIS ON CONTINUITY WHICH HAS ENABLED US TO SUSTAIN OUR EFFORTS INTO 1975-76 DESPITE OUR REVENUE PROSPECTS.+
WHILE THE BUDGETTED INCREASE IN EXPENDITURE FOR 1975-76 WAS ONLY SEVEN PER CENT, THE GOVERNMENT WAS NOT IGNORING ITS COMMITMENTS NOR DID THIS PERCENTAGE CONSTITUTE A 'STOP GO' ATTITUDE. RATHER, IT WAS A CHANGE OF PACE, HE ADDED.
THE RIGHT ECONOMIC AND FISCAL POLICIES FOR 11ONG KONG WERE ALMOST ENTIRELY DICTATED BY OUR CIRCUMSTANCES, HE SAID, AND WE
IGNORE THOSE CIRCUMSTANCES AT OUR PERIL.+
AS FOR THE SO-CALLED CUTS OR REDUCTIONS IN EXPEND I TURE. THE FINANCIAL SECRETARY POINTED OUT THAT THESE WERE LARGELY IN RESPECT OF DEPARTMENTAL SUBMISSIONS. A STUDY OF THE MEMORANDUM NOTES ON EACH HEAD OF EXPENDITURE WILL REVEAL THAT SERVICES AND PROGRAMMES ARE FOR THE MOST PART BEING MAINTAINED AND, IN SOME CASES, EXPANDED ALBEIT ON A MORE LIMITED SCALE THAN MOST OF US WOULD ARGUE WAS DESIRABLE IN OTHER CIRCUMSTANCES.
HE ADDED: FURTHERMORE, THE PROVISIONS SOUGHT UNDER EACH HEAD AND SUBHEAD ARE CONSISTENT WITH EACH OTHER, THAT IS TO SAY, FOR EACH SERVICE AND CAPITAL WORKS PROJECT SUFFICIENT FUNDS AND STAFF ARE PROVIDED TO ENABLE STATED INTENTIONS TO BE ACHIEVED. HE ADMITTED, HOWEVER, THAT THERE MAY BE ODD CASES OF INADEQUATE PROVISION AND EVEN OMISSION, BUT REITERATED THAT HEADS OF DEPARTMENTS WOULD HAVE TO EXPLORE WAYS AND MEANS OF ACHIEVING MAXIMUM COST- EFFECTIVENESS.
AR. HADDON-CAVE