It is clearly in the interest of the entire community that we should have what I would call a through budge, i.e. a budget covering the normal 12-month cycle. This is what the community of Hong Kong wants because continuity is what we want and continuity in administration and continuity in our financial provision is clearly very important. It is also important from the business point of view particularly from the international financial market. And it is because of this that the two sides have agreed that we should co-operation and together work out the 1997/98 budge. As you know, the Secretary for the Treasury and the Chinese side have held useful talks over the last two days. We've reached agreement on a number of important areas. But the important point to stress is that we have a shared objective in ensuring preparation of the 1997 budget according to our usual timetable. Clearly both sides wish to reach consensus on this budget and both sides will be doing our very best to reach this consensus. And of course that budget - the 1997 budget - will have to reflect the views of the community and the views of the Legislative Council.
Question: Is this sacrificing Hong Kong's autonomy?
Chief Secretary: I don't see that there is any sacrifice of Hong Kong's autonomy. I have already explained why it is necessary to involve the Chinese side on the preparation of the 1997/98 budget because it is in the community's interest to have a budget that covers the normal 12-month cycle. People in Hong Kong wish to know what financial provisions there will be, covering various services after 1997. The international investing public wishes to know what our budget is going to be after 1997.
End
UN committee's observations on racial discrimination
The Government today (Friday) received the concluding observations of the United Nations Committee on the Elimination of Racial Discrimination following its consideration on March 4 and 5 of the 13th periodic report submitted by the United Kingdom under the International Convention on the Elimination of All Forms of Racial Discrimination.
The Committee viewed the Hong Kong Government's proposal to study racial discrimination later this year "as a constructive means of determining the extent of problems in the area of racial discrimination."