WEDNESDAY, OCTOBER 26, 1994
FINANCIAL SECRETARY IN POLICY ADDRESS DEBATE
FOLLOWING IS THE SPEECH BY THE FINANCIAL SECRETARY, MACLEOD, IN THE LEGISLATIVE COUNCIL DEBATE ON THE MOTION TODAY (WEDNESDAY):
SIR HAMISH OF THANKS
MR PRESIDENT,
I
MEMBERS,
HAVE LISTENED CAREFULLY TO THE VIEWS OF HONOURABLE
LET ME BEGIN BY AND PARTICULARLY TO REMARKS ABOUT THE ECONOMY.
MAINTAINING ASSURING THIS COUNCIL THAT WE REMAIN FIRMLY COMMITTED TO
INDEED, OUR HONG KONG'S STATUS AS A COMPETITIVE BUSINESS CENTRE.
BUT TO REMAIN OPEN MARKET AND FREE ECONOMY GIVE US LITTLE CHOICE
AND PROMOTE THE COMPETITIVE. WE
DO ALL WE CAN TO PRESERVE SHALL
IT IS A FIRM PROSPERITY
THIS IS NO EMPTY SLOGAN. OF HONG KONG.
BUT MEMBERS WERE RIGHT TO REMIND COMMITMENT AND OUR BASIC PHILOSOPHY, US OF A NUMBER OF CHALLENGES WHICH WE CONTINUE TO FACE, AND OF CERTAIN POLICIES WHICH NEED TO BE PURSUED WITH VIGOUR IF WE ARE TO CONTINUE TO SUCCEED.
INVESTMENT IN INFRASTRUCTURE
OUR
IN MEMBERS' SPEECHES, ΤΟ PICK
SOME OF THE MAJOR THEMES UP
TO REMAIN FIRST, INFRASTRUCTURE. I ENTIRELY AGREE WITH MEMBERS THAT, COMPETITIVE, WE MUST HAVE THE NECESSARY INFRASTRUCTURE TO SUPPORT GROWTH. I WOULD SUBMIT THAT OUR RECORD ON INFRASTRUCTURE
WE FOR EXAMPLE, IS PRETTY GOOD. OVER THE NEXT FIVE YEARS, PROVIDE SOME $200 BILLION FOR INFRASTRUCTURE IMPROVEMENTS BY
* SPENDING $105 BILLION ON NON ACP CAPITAL WORKS
*
INVESTMENT
WILL
SPENDING NEARLY $35 BILLION ON GOVERNMENT ACP PROJECTS, MANY OF WHICH
IMPROVING HAVE A DUAL PURPOSE, PARTICULARLY
TRANSPORT LINKS
INJECTING $60 BILLION INTO THE AIRPORT CORPORATION AND MTRC.
THE
THIS MAJOR INVESTMENT IS OF COURSE COMPLEMENTED BY SUBSTANTIAL PRIVATE SECTOR SPENDING ON INFRASTRUCTURE - TELECOMMUNICATIONS, POWER, AND THE WESTERN HARBOUR CROSSING WOULD BE GOOD EXAMPLES.
ASSURE YOU WE BUT FOR THOSE WHO STILL HAVE DOUBTS, I CAN CONTINUE TO PLACE A VERY HIGH PRIORITY ON CONTINUOUSLY UPGRADING OUR INFRASTRUCTURE. AND HENCE IN REMOVING ECONOMIC BOTTLENECKS, SO HELPING TO IMPROVE EFFICIENCY AND INDIRECTLY TO LOWER INFLATIONARY PRIVATE PRESSURES. WE THEREBY ALSO PROVIDE THE SPRINGBOARD FOR THE SECTOR TO GO ON TO CREATE STILL GREATER WEALTH FOR THE COMMUNITY AS A WHOLE TO SHARE IN FUTURE.
/AIRPORT AND