WEDNESDAY, MARCH 2, 1994
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GOVERNOR SPEAKS TO PRESS
AFTER HIS VISIT TO TAI PO
I
GOVERNOK: JUST A COUPLE OF REMARKS. I AM SURE THAT THE BUDGET WHICH THE FINANCIAL SECRETARY HAS ANNOUNCED THIS AFTERNOON WILL BE GREETED WITH VERY GREAT ENTHUSIASM IN HONG KONG. IT'S ANOTHER REFLECTION OF THE VERY CONSIDERABLE STRENGTH OF OUR ECONOMY. WE HAVE ONE OF THE MOST SOUNDLY BASED ECONOMIES NOT JUST IN THE REGION BUT IN THE WORLD. AND THAT'S SHOWN IN THE STATEMENT WHICH THE FINANCIAL SECRETARY HAS MADE TODAY ABOUT OUR PLANS FOR THE NEXT YEAR. THE BUDGET IS ALSO AND WE SHOULD RECOGNISE THIS. A REFLECTION OF THE VERY HARD WORK OF THE PEOPLE ог HONG KONG OVER THE LAST YEAR, WE ARE ONE OF THE MOST COMPETITIVE ECONOMIES IN THE WORLD AND BECAUSE OF THAT, WE ARE ABLE TO INCREASE OUR SPENDING AND CUT OUR TAXES. I AM PLEASED THAT WE WERE ABLE ΤΟ FOCUS INCREASED EXPENDITURE ON SOME OF THE COMMUNITY'S PRIORITIES, HEALTH, WELFARE AND EDUCATION, TO NAME THREE. I AM ALSO DELIGHTED THAT WE'RE ABLE TO REDUCE TAXES, TO REDUCE TAXES ON THE BUSINESSES WHICH ARE THE BACKBONE OF HONG KONG'S ECONOMY AND TO REDUCE TAXES ON FAMILIES AS WELL. AS A RESULT OF THE CHANGES ANNOUNCED BY THE FINANCIAL. SECRETARY TODAY, 430,000 PEOPLE WILL GO OUT OF THE TAX NET ALL TOGETHER AND OVER 1,100,000 WILL PAY LESS
TAX. THOSE FIGURES REFLECT THE PROSPERITY AND STABILITY OF HONG KONG WHICH I AM DETERMINED TO CONTINUE TO WORK FOR. AT THE SAME TIME THAT WE'VE BEEN ABLE TO REDUCE TAXES AND INCREASE EXPENDITURE, THE FINANCIAL SECRETARY HAS ANNOUNCED VERY SUBSTANTIAL FIGURES POR THE RESERVES IN THE FUTURE YEARS. AND IT'S IMPORTANT, 1 THINK, THAT WE SHOULD ALWAYS MAKE SURE THAT WE HAVE THAT CUSHION AGAINST DIFFICULTY. IT'S VERY IMPORTANT WHEN YOU ARE RUNNING AN ECONOMY. I BELIEVE TO BE CAUTIOUS RATHER THAN то TAKE RISKS. SO ALTOGETHER, IT'S AN EXCELLENT BUDGET, A BUDGET WHICH REFLECTS THE CONTINUING STRENGTH AND VITALITY OF HONG KONG AND OF THE WHOLE COMMUNITY,
QUESTION: DO YOU ANTICIPATE THE CHINESE SIDE WILL CRITICISE THE NEW BUDGET?
GOVERNOR : I SHOULD THINK IF THEY ARE PAIR-MINDED, THEY WILL WELCOME IT WITH ENTHUSIASM.
QUESTION : MR PATTEN THIS YEAR WE'VE GOT A PRETTY GOOD SURPLUS. 30, TOMORROW 18 THE AIRPORT EXPERT MEETING, WILL YOU DEAL WITH THE DISCUSSIONS IN 1 MORE FLEXIBLE WAY,
MKAN BECAUSE ACTUALLY CHINESE SIDE HAS ALREADY CRITICISED THE FOURTH AIRPORT PACKAGE?
IDEAS
THE
BY
PUT MEET THE VERY MUCH FINANCIAL GOOD DEAL
GOVERNOR: THE PROPOSALS WHICH I AM DELIGHTED WIEL BE DISCUSSED EXPERTS THIS WEEK, IN OUR JUDGMENT, MEET THE REQUESTS AND FORWARD BY CHINESE OFFICIALS A FEW MONTHS AGO OR AT LEAST PRINCIPAL POINTS PUT FORWARD BY CHINESE OFFICIALS. SO, I HOPE THAT WHEN THE CHINESE SIDE RESPONDS TO OUR FOURTH PACKAGE TOMORROW THAT WILL TAKE THE DEBATE FORWARD A BECAUSE EVERYBODY NOT LEAST THE GOVERNMENT WANTS TO SEE THIS MATTER RESOLVED AS QUICKLY AS POSSIBLE.
QUESTION: WHAT IS THE IMPLICATION OF U.S. PRESIDENT CLINTON
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/GOVERNOR: