14
WEDNESDAY, OCTOBER 7, 1987
NEVERTHELESS, THERE WAS SOME SCOPE FOR EXPANDING PUBLIC TO NEW NEEDS. "THESE WILL BE WITHIN THE SERVICES AND RESPONDING
SERVICE CONSTRAINT THAT WE SHALL TRY TO LIMIT THE GROWTH OF THE CIVIL TO NOT MORE THAN 2.5 PER CENT IN ANY ONE YEAR."
SIR DAVID ALSO SAID THAT THE LOW TAX PHILOSOPHY WOULD CONTINUE, PUBLIC FINANCES THE GOVERNMENT AND COMMENTED THAT IN MANAGING THE TRIED ESSENTIALLY TO ACT LIKE A PRUDENT HOUSEKEEPER.
"IT 19 QUITE RIGHTLY AN ARTICLE OF FAITH THAT WE SHOULD
IN WAYS THAT
ARE
SEEK
REVENUE то RAISE
EFFICIENT AND WHICH ECONOMY BY BLUNTING THE DO NOT ACT AS A BRAKE ON THE GROWTH OF THE
ON WHICH INCENTIVES TO EFFORT, ENTERPRISE, INVESTMENT AND INNOVATION ECONOMIC GROWTH ESSENTIALLY DEPENDS.
THAT RELATIVELY MODEST
EXPERIENCE "HONG KONG HAS LEARNED BY LEVELS OF TAXATION, WHICH ARE CAPABLE OF BEING COLLECTED, PRODUCE MORE
HIGHER AND MORE ONEROUS RATES REVENUE IN THE LONG RUN THAN
THEY GIVE ENCOURAGEMENT TO ECONOMIC EXPANSION."
GOVERNMENT
ΤΟ AIMED
SINCE
ENSURE
THAT OF THE FAR AS
ON THE SPENDING SIDE, THE PUBLIC SPENDING DID NOT EXCEED A REASONABLE AND PRUDENT SHARE PRODUCT AND THAT ITS GROWTH SHOULD, AS GROSS DOMESTIC POSSIBLE, NOT EXCEED THE OROWTH OF THE GDP.
"THIS MEANS THAT, IN ORDER ΤΟ MAINTAIN AND DEVELOP IT IS NECESSARY IN PROGRAMMES AND SERVICES IN DIFFICULT YEARS,
TO RUN SURPLUSES AND TO GOOD YEARS OF RAPID ECONOMIC GROWTH MONEY ASIDE.
OUR
THE
PUT
YEARS
"THIS LESSON WAS BROUGHT HOME SHARPLY DURING THE DEFICIT
OUR RESERVES ΤΟ MAINTAIN FROM 1982 TO 1985, WHEN WE HAD TO CALL ON THE EXISTING LEVEL OF SERVICES."
SIR DAVID ALSO SAID THAT A
TO IMPROVE BEING INTRODUCED PLANNING,
THE
"RESOURCE
LONG-TERM GOVERNMENT'S
ALLOCATION SYSTEM" WAS FINANCIAL
"OUR
ARRANGEMENTS PRESENT
SUFFER FROM NOT
BEING ABLE
ΤΟ
AND, PROVIDE US WITH A MEANS OF MONITORING PERFORMANCE AGAINST DEMAND
NOT ENABLING MORE
US IMPORTANTLY,
то RESPOND MORE FLEXIBLY ΤΟ
HE SAID, CHANGING ECONOMIC AND SOCIAL DEVELOPMENTS,"
METHODS 30 THAT WE IN FUTURE
"THE NEW SYSTEM WILL IMPROVE FORECASTING CAN PREDICT MORE ACCURATELY THE SIZE OF OUR FINANCIAL CAKE YEARS AND THEN HAVE THE ABILITY TO PLAN RATIONALLY HOW SHARED OUT BETWEEN COMPETING GOVERNMENT SERVICES.
IT SHOULD BE
ENABLE US "WHEN IT IS OPERATING FULLY, THIS NEW SYSTEM SHOULD
ACROSS THE TO PLAN AND MONITOR MORE EFFICIENTLY THE USE OF RESOURCES
RESOURCES IN 1 WHOLE SPECTRUM OF GOVERNMENT ACTIVITIES; TO ALLOCATE
AND MORE FLEXIBLE WAY; TO ASSESS HOW EFFECTIVELY THEY ARE BEING USED;
MAKR BETTER THEN TO
DECISIONS ON THE DIFFICULT CHOICES BETWEEN COMPETING PRIORITIES.
P
/TURNING TO