+
11
WEDNESDAY, APRIL 1, 1992
THE
AND.
HE SAID THE INDICATIONS WERE THAT THE PUBLIC SHARED GOVERNMENT'S BELIEF THAT THE BUDGET WOULD PROVIDE THIS CERTAINTY, THAT IT WOULD BE UNRAVELLED ONLY AT A HIGH COST, LITERALLY AND METAPHORICALLY, TO THE WHOLE COMMUNITY.
"FOR THESE REASONS, I HAVE MADE IT VERY CLEAR THAT I WILL NOT BE INTRODUCING ANY CHANGES TO THIS BUDGET. BUT I HAVE INDICATED A WILLINGNESS TO LOOK AT WAYS OF ADDRESSING SOME OF MEMBERS' KEY CONCERNS SEPARATELY," THE FINANCIAL SECRETARY SAID.
0
SUBSTANTIAL RESERVES NEEDED FOR ROUGH TIMES: CS
* * *
THE MAIN PURPOSE OF THE GOVERNMENT HAVING SUBSTANTIAL
RESERVES
IS TO ENSURE THAT THE ADMINISTRATION CAN GO ON PROVIDING PUBLIC SERVICES AT A REASONABLE LEVEL EVEN WHEN THE GOING GETS ROUGH.
THIS WAS STATED BY THE CHIEF SECRETARY, THE HON SIR DAVID FORD, IN THE RESUMED BUDGET DEBATE AT THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
SIR DAVID SAID THIS WAS ALL THE MORE IMPORTANT NOW THAT THE RANGE OF GOVERNMENT SERVICES WAS SO EXTENSIVE AND CONTRIBUTE SO HUGELY TO THE SOCIAL INFRASTRUCTURE OF HONG KONG.
"WE BELIEVE IT WOULD BE TOTALLY IRRESPONSIBLE OF THE GOVERNMENT TO LEAVE ESSENTIAL SERVICES VULNERABLE TO A DOWNTURN IN THE ECONOMY, THE CHIEF SECRETARY SAID.
IN THE ABSENCE OF ADEQUATE RESERVES SUCH A DOWNTURN MIGHT MEAN SEVERE CUT BACKS IN SUCH ESSENTIAL SERVICES AS THE POLICE, FIRE SERVICES, HOSPITAL SERVICES OR EDUCATION.
"I DO NOT ACCEPT THAT WE ARE BEING OVER CAUTIOUS.
"WE
EVENTS,
ARE ALL TOO CONSCIOUS OF THE UNPREDICTABILITY OF BOTH ECONOMICALLY AND POLITICALLY, IN THIS REGION AS WELL AS BEYOND."
SIR DAVID SAID HONG KONG WAS MORE VULNERABLE THAN MOST TO MAJOR CHANGES IN THE ECONOMIC OR POLITICAL FORTUNES OF NEIGHBOURING TERRITORIES OR THE WORLD AT LARGE.
HONG KONG
TO PUT IT SIMPLY, HE SAID, AS A TRADING COMMUNITY RELIED ON A SETTLED INTERNATIONAL ENVIRONMENT AND STABILITY IN CHINA.
"AND ANYTHING WHICH UPSETS THIS, FOR EXAMPLE EVENTS IN CHINA IN 1989,
THE GULF WAR, THE DISINTEGRATION OF FORMER SOVIET UNION ARE CLEAR REMINDERS OF THE IMPACT SUCH EXTERNAL EVENTS CAN HAVE ON OUR STABILITY AND FINANCIAL VIABILITY."
"A REASONABLE