33
WEDNESDAY
DECEMBER 15, 1993
OF
MR TSANG SAID THE MRF WOULD BE PRESENTED IN A NEW FORMAT IN THE UPCOMING FORECAST, TO GIVE A CLEARER AND MORE INFORMATIVE PICTURE THE GOVERNMENT'S FINANCES.
MRF
TAKING FORMAT
THE GOVERNMENT IS NOW FINALISING THE NEW FORMAT, AFTER ACCOUNT THE ADVICE OF LEGCO MEMBERS ON HOW BEST THE CAN BE REVISED.
INTO
REVENUE AND THE YEAR,
THE MRF IS A FORECAST OF THE GOVERNMENT'S EXPENDITURE
A PERIOD OF FIVE YEARS: THE CURRENT COVERING FORTHCOMING ESTIMATES YEAR AND A FURTHER THREE YEARS.
MR TSANG SAID: "LIKE MOST FORECASTS, IT IS BASED ON AN ANALYSIS OF WHAT HAS HAPPENED IN PREVIOUS YEARS, CURRENT AND UP-TO-DATE DATA OF
PRESENT
AS POSITION AND A NUMBER OF KEY ASSUMPTIONS THE EVENTS, SUCH AS ECONOMIC GROWTH AND INFLATION TRENDS."
то
FUTURE
"IN COMPILING THE MRF FOR THE UPCOMING BUDGET, THEREFORE, SHALL PAY FULL ATTENTION TO THE TRENDS OF KEY INDICATORS TO-DATE,
REVENUE LATEST
AND EXPENDITURE POSITION AND THE REALISM OF ASSUMPTIONS
WHICH ON
THE PROJECTIONS ARE BASED HAVING REGARD CURRENT AND ANTICIPATED CIRCUMSTANCES.'
|
WE
THE
THE
ΤΟ
DESPITE THESE
DIFFERENT FACTORS.
FROM THE
EFFORTS, THE FINAL OUT-TURN MIGHT STILL BE FORECAST BECAUSE OF CHANGES
THE UNDERLYING
IN
FOR EXAMPLE, ECONOMIC GROWTH AND PROPERTY AND STOCK MARKET ACTIVITIES MAY BE HIGHER OR LOWER THAN EXPECTED AND AFFECT THE REVENUE OUT-TURN TO A SIGNIFICANT DEGREE, HE ADDED.
RETIREMENT SCHEMES FIGURES
* * * * *
ABOUT 22,000 BUSINESSES WERE PROVIDING RETIREMENT PROTECTION, EITHER A PROVIDENT FUND OR PENSION FUND, TO THEIR EMPLOYEES, ACCORDING TO A SURVEY BY THE CENSUS AND STATISTICS DEPARTMENT IN 1991.
THE "WHOLESALE/RETAIL, IMPORT/EXPORT TRADES, RESTAURANTS AND HOTELS" SECTOR HAS THE LARGEST NUMBER OF RETIREMENT SCHEMES OF 10,343.
THE SECTOR ALSO HAS THE LARGEST NUMBER OF EMPLOYEES COVERED BY RETIREMENT SCHEMES.
THE
"FINANCING, INSURANCE, REAL ESTATE AND BUSINESS SERVICES" SECTOR HAS THE HIGHEST PROPORTION OF ESTABLISHMENTS PROVIDING SOME FORM OF RETIREMENT SCHEME TO THEIR EMPLOYEES.
THE FIGURES WERE REPORTED BY THE ACTING SECRETARY FOR FINANCIAL SERVICES, MR TAM WING-PONG, IN A WRITTEN REPLY TO A QUESTION BY THE HON TIK CHI-YUEN IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
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