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All in all a pretty impressive package. But I know there will be some who say we should have gone further. With a surplus this year of $15 billion, and a forecast for the coming year of over $30 billion, they will say we should have gone on a spending spree. Or had a real giveaway on the tax side.
This might seem attractive, but it would have been wrong. What has brought us to our present position of strength is the firm discipline of keeping increases in government spending in line with GDP growth. If we were to abandon that discipline, it would become impossible to hold the line. On the tax side I have tried to strike a balance. We must make sure the new SAR Government starts life in the strongest possible financial position. At the same time, you the people of Hong Kong are entitled to enjoy a dividend from the success you have created. I hope you will agree that we have got the balance about right.
This is a unique Budget for a special year. We are living through a time of change. But we can face the challenges this brings because we have the confidence that our way of life will continue. We are privileged to be part of history in the making. And together we will make our future work.
Thank you and good night.
End
Financial Secretary to take calls from the public
Members of the public will have the opportunity to express their views on the Budget proposals for 1997/98 to the Financial Secretary, Mr Donald Tsang, direct through phone-in programmes tomorrow (Thursday) and on Saturday.
The Financial Secretary will take questions from callers to RTHK Radio 1 and 5's "Talkabaout" and Radio 3's "Hong Kong Today" programmes from 7.45 am to 9.00
am tomorrow.
After attending RTHK's programme. Mr Tsang will brief chairmen of the two municipal councils and 18 district boards on the 1997/98 Budget at 10 am at the Home Affairs Department Headquarters.