TINENT”, TITY A.
TITY 8, 1002
MR MACLEOD ALSO BRIEFED MEMBERS ON THE POSITION OF THE FISCAL RESERVES, NOTING THAT THE EFFECT OF THE ADDITIONAL SURPLUS FOR 1991-92 WOULD BE LARGELY OFFSET BY HIS DECISION NOT ΤΟ PROCEED WITH THE PROPOSAL TO INCREASE RATES.
BRIEFING MEMBERS ON THE BUDGETARY SYSTEM, MR MACLEOD SAID IT WAS BASED ON TRIED AND TESTED METHODS WHICH HAVE SERVED HONG KONG WELL.
"THIS HAS ENABLED US TO ACHIEVE A BALANCED BUDGET OVER THE YEARS WITH ADEQUATE RESERVES AND HAS ENSURED THAT WE LIVE WITHIN OUR MEANS," HE SAID.
AFTER SEEKING MEMBERS' VIEWS ON EXPENDITURE PRIORITIES, THE FINANCIAL SECRETARY WILL HAVE ANOTHER ROUND OF CONSULTATION WITH MEMBERS ON REVENUE OPTIONS. THIS IS EXPECTED TO TAKE PLACE IN AUTUMN.
FS ON BUDGET EXPENDITURE
FOLLOWING IS THE TRANSCRIPT OF REMARKS BY THE FINANCIAL SECRETARY, MR HAMISH MACLEOD, AFTER BRIEFING MEMBERS OF THE LEGISLATIVE COUNCIL ON EXPENDITURE ASPECTS OF THE 1993/94 BUDGET TODAY (WEDNESDAY):
WILL
FS: WELL, WHAT I'VE BEEN DOING OF COURSE IS FOLLOWING UP THE PROMISE I MADE IN THE BUDGET DEBATE THAT I WOULD THIS YEAR START QUITE A NEW PROCESS AND GO THROUGH A DIALOGUE WITH LEGCO MEMBERS ABOUT THE BUDGET. AND WE'VE JUST BEGUN THAT BY GIVING MEMBERS SOME BACKGROUND PARTICULARLY RELATED TO EXPENDITURE AND TO RECURRENT EXPENDITURE AND WE HAD I THINK A GOOD DISCUSSION. I GAVE SOME INDICATIONS OF OUR MAIN ASSUMPTIONS ABOUT ECONOMIC GROWTH, ABOUT THE SORTS OF ACTUAL MONEY LIKELY ΤΟ
BE AVAILABLE, AND WE ARE MEETING MEMBERS IN GROUP'S WHERE THEY ARE ORGANISED INTO GROUPS, AND THEN THE INDEPENDENT MEMBERS MEET SEPARATELY AS ANOTHER GROUP NEXT WEEK, ON TUESDAY AND WEDNESDAY OF NEXT WEEK TO GET THEIR VIEWS ON BASICALLY RECURRENT EXPENDITURE PRIORITIES. I'VE SAID THAT THAT IS NOT THE END OF THE PROCESS, THAT WE WILL MEET AGAIN PROBABLY IN SEPTEMBER TO TALK ABOUT REVENUE AND PROBABLY ALSO IF THERE ARE SOME CAPITAL EXPENDITURE ASPECTS WHICH WE SHOULD DISCUSS. SO THAT WILL HELP US IN THE QUITE LONG PROCESS WHICH WE ARF GOING THROUGH, WHICH HAS ALREADY BEGUN, OF DECIDING ON EXPENDITURE AND REVENUE MEASURES WHICH EVENTUALLY OF COURSE APPEAR IN THE ESTIMATES IN THE NEXT BUDGET. BUT THAT PROCESS HAS ALREADY BEGUN. WE NEED TO REACH SOME PRETTY BROAD CONCLUSIONS ACTUALLY QUITE SOON AND THEN WE'LL GO ON WITH FURTHER DETAIL.. THERE IS A PRESS RELEASE, WHICH YOU HAVE, WHICH HOPEFULLY SAID SOMETHING SIMILAR TO WHAT I'VE JUST SAID. SOME OF YOU HAVEN'T GOT IT, I SEE FROM YOUR HANDS, THERE'S SOME MORE COPIES AT THE DOOR.
REPORTER: SOME PEOPLE WERE TALKING ABOUT SOME FIGURES, CAN YOU TELL US WHAT FIGURES YOU'VE GOT SO FAR AND WHERE THEY CAME FROMT
/FS: YES,