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Financial Secretary sets out his priorities
The Financial Secretary, Mr Donald Tsang, said today (Wednesday) that his first task as Financial Secretary was to make sure that Hong Kong's economy went on growing at a steady and sustainable pace.
Speaking at a luncheon meeting of the Hong Kong General Chamber of Commerce, Mr Tsang said the predictable, consistent and prudential approach to public finances adopted by the Government would remain unchanged.
"First, the rate of growth in public spending must stay firmly in line with the trend rate of growth of GDP. Second, we must stick to low and predictable taxes, balanced budgets and strong reserves," he said.
He said the linked exchange rate had given Hong Kong the certainty the economy needed and there would be no adjustments or tinkering of the mechanism.
Mr Tsang said he was every much aware that there was a deep anxiety in the community about unemployment.
"As Financial Secretary, I realise that behind the cold statistics of unemployment are men and women and their families who have lost their jobs, lost their monthly income and are probably worrying about making ends meet.
"There is a clear consensus that the Government should do everything in its power to promote full employment," he said.
He said the Government's response involved a three-part policy.
He said the first and most directly useful policy was job counselling and retraining which provided them with the skills they needed to match the jobs available.
Mr Tsang also called on employers and employees to change their attitudes on job placements.
"Rigidities in the labour market are, too often, rigidities in the mind-sets of employers as well as workers," he said.
He said employers, too often, had rigid stereotypes of the "ideal" recruit that are "needed".