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Transcript of FS's media session
The following is the transcript of the Finanical Secretary, Mr Donald Tsang's remark at a media session after giving a briefing to Legislative Councillors on Expenditure of the 1997-98 Budget at the Legislative Council Chamber this (Thursday) morning:
Question: Some Councillors have expressed fears that your hands will be tied doing nothing with next year's Budget given China's insistence that Hong Kong is spending too much on social welfare. How would you react to that?
FS: I think I have explained clearly that we're going to process the 1997-98 estimates in the same way that we have done in the past and we'll listen very carefully the views of the Legislative Councillors and the views of the community as a whole. The additional step we would have to take because of the unique nature of this year is that to listen to also the expert group Chinese representatives' views, and I am aiming at reaching consensus with the Chinese experts on each major step of the preparatory process. I'm personally quite confident that we are going to operate on a rational model because we are dealing with something very important, very important not only to the people of Hong Kong that we are going to have a good estimate, good Budget for the coming year which will be conducive to transition. It will be important, because it is important to China, that Hong Kong is going to succeed in the following year, and for that reason, I am quite sure, my colleagues and I, and the Chinese experts and those who advise the Chinese experts, we are going to be operating very rationally on this and our views will be quite similar to those Legislative Councillor at the end of the day. And then at the end of the day whatever we recommend will have to be put forward to the Legislative Council for approval in March.
Question: Will you need to put it to Chinese advisors that they would have the power to veto?
FS: We have said very clearly we are going to co-operate fully with the Chinese experts in the preparation of next year's estimates. I do not wish to use the word veto, superiority or whatever. We are certainly going into a joint enterprise. Our common aim is to reach a consensus.
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