XN000022-1983-04-14 — Page 4

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THURSDAY, APRIL 14, 1983

+HE AND OTHERS WILL, HOWEVER, BE PLEASED TO KNOW THAT DRAFTING INSTRUCTIONS HAVE ALREADY BEEN GIVEN FOR AMENDMENTS DESIGNED TO TIGHTEN UP THE BANKING AND DTC ORDINANCES, HE SAID.

MR BREMRIDGE SAID THAT, SUBJECT TO CONSULTATIONS AND TO EXECUTIVE COUNCIL ADVICE, HE HOPED TO PRESENT AMENDMENT BILLS TO THE COUNCIL WELL BEFORE THE END OF THIS SESSION.

+CONSISTENT UPDATING IS ESSENTIAL NOT LEAST IN THE LIGHT OF RECENT EXCESSES, WHICH I DEPLORE, HE ADDED.

ON THE COUNCIL FOR THE PERFORMING ARTS, MR BREMRIDGE SAID THE SUGGESTION BY THE HON WILLIAM BROWN OF A ONE-LINE VOTE WOULD BE CONSIDERED.

MR BREMRIDGE ALSO GAVE ASSURANCE THAT THE GROWTH OF PUBLIC SECTOR EXPENDITURE REQUIRED CONSTANT CONTROL AND THAT HE WOULD DO HIS BEST TO MAKE SURE THAT THERE WAS NO ABSOLUTE GROWTH BEYOND 24 PER CENT.

HE ALSO AGREED ENTIRELY WITH THE HON STEPHEN CHEONG'S +PERTINENT VIEWS ON PUBLIC SECTOR, BUDGETARY AND EXPENDITURE CONTROL+.

+MY AGREEMENT IS OF COURSE IN PRINCIPLE AND NOT NECESSARILY IN DETAIL,+ HE ADDED.

REFERRING TO THE HON MARIA TAM'S COMMENTS ON THE NEED TO TRACE THE INCOME OF COMPANIES REGISTERED IN HONG KONG, MR BREMRIDGE POINTED OUT THAT THE INLAND REVENUE DEPARTMENT HAD AN ACTIVE INVESTIGATIONS UNIT WITH 70 PROFESSIONAL OFFICERS +DEDICATED TO THE DETECTION AND PUNISHMENT OF TAX EVADERS+.

MR BREMRIDGE SAID HE WAS GRATEFUL FOR DR HENRY HU AND THE HON ROGER LOBO'S ACCEPTANCE OF THE WISDOM OF POSTPONING BUDGET DAY BY A MONTH+.

QUITE DIFFICULT ISSUES WERE, HOWEVER, INVOLVED, AND THE NECESSARY PROCESSES WOULD NOW COMMENCE.

IT WAS TOO EARLY TO SAY WHETHER SUCH A POSTPONEMENT COULD BE IMPLEMENTED SUCCESSFULLY, BUT HE WAS HOPEFUL, MR BREMRIDGE SAID.

AT THE CONCLUSION OF HIS SPEECH, MR BREMRIDGE SAID THAT HE HAD BEEN GREATLY ASSISTED IN THE PAST TWO YEARS BY AN ADMIRABLE DEPUTY FINANCIAL SECRETARY- THE HON HENRY CHING+, WHO WOULD BE TAKING UP THE POST OF SECRETARY FOR HEALTH AND WELFARE.

+MY PREDECESSOR JOINS ME IN THANKING HIM FOR ALL HE HAS DONE FOR BOTH OF US AND IN WISHING HIM WELL FOR THE FUTURE,+ MR BREMRIDGE SAID.

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