XN000022-1976-03-25 — Page 12

11

THURSDAY, MARCH 25, 1976

REFERRING TO HIS BUDGET ADDRESS LAST YEAR, IN WHICH HE HAD URGED THE FINANCIAL SECRETARY TO TAKE A TOTAL VIEW IN FINANCIAL MANAGEMENT+ AND SET UP A +HIGH-POWERED AND FULL TIME CENTRAL BODY+ TO MEASURE RELATIVE PRIORITIES, MR. LO SAID HE WAS ENCOURAGED BY THE FACT THAT THE FINANCIAL SECRETARY NOW CONSIDERS THAT SUBVENTED ORGANISATIONS SHOULD BE SUBJECT TO THE SAME DEGREE OF PUBLIC ACCOUNTABILITY AS GOVERNMENT DEPARTMENTS.

}

HE NOTED WITH REGRET, HOWEVER, THAT THE FINANCIAL SECRETARY HAD NOT YET CONSIDERED THE ESTABLISHMENT OF A FULL-TIME COMMITTEE TO EXAMINE PRIORITIES PROPERLY, AND THAT THE DIRECTOR OF AUDIT HAD NOT YET COMMITTED HIMSELF TO EXAMINING THE ACCOUNTS OF GOVERNMENT-OWNED STATUTORY BODIES.

/12