3-
This said, I can hardly over-emphasise the crucial importance of processes for forming the SAR Legislative Council, and for selecting the Chief Executive. The Hong Kong community expects these to be nothing less than open, fair and transparent. So does the international community. The Hong Kong Government, too, fully shares such expectations. Those who are responsible for determining the formation processes will do well to take full account the wishes of the Hong Kong people, if they are serious about establishing an SAR Government which is credible and truly representative.
Finally, let me reassure this Council and the community that the Hong Kong Government is firmly committed a successful transition. We will continue to be responsible for the administration of Hong Kong with the object of preserving its economic prosperity and social stability. We are ready to provide practical co- operation with the Preparatory Committee and the Chief Executive (Designate), once he or she is in place. We hope others will join us in this solemn and historic endeavour.
End
Public Finance Ordinance
Following is a speech by the Secretary for the Treasury, Mr K C Kwong, in moving the resolution of the Pubic Finance Ordinance in the Legislative Council today (Wednesday):
Mr President,
I move the motion standing in my name in the Order Paper.
The purpose of this motion is to seek funds on account to enable the Government to carry on existing services between the start of the financial year on 1 April 1996 and the enactment of the Appropriation Bill. This follows the procedure long established in this Council.
We have determined the funds on account sought under each subhead in accordance with paragraph four of the resolution, by reference to percentages of the provision shown in the draft Estimates. If the draft Estimates are changed, by the Finance Committee or under delegated powers, the provision to which the percentages are applied will also change accordingly. Thus the provision on account under each head is not constant but may vary, with every increase being matched by an equal decrease. The initial provision on account under each head is shown in the footnote to this speech. The aggregate total under all heads is fixed, however, at $49,596,849,000 and cannot be exceeded without the approval of this Council.