XN000022-1990-03-07 — Page 43

WEDNESDAY, MARCH 7, 1990

30

PROPOSALS AIMED AT BUILDING SOLID FOUNDATION

THE FINANCIAL SECRETARY, THE HON SIR PIERS JACOBS, SAID TODAY THAT IN THIS YEAR'S BUDGET HE HAS CONSIDERED IT PARTICULARLY IMPORTANT TO LOOK BEYOND 1990 IN ORDER TO ENSURE THAT AS FAR AS PROPOSALS, AND

STRATEGIES UPON WHICH THEY ARE

FOR FOR THE CURRENT YEAR BUT ALSO APPROPRIATE

THE

NOT

ONLY

POSSIBLE BASED,

THE

THE

ARE YEARS

AHEAD.

COUNCIL.

BIR

PLACE ON

SUMMING UP HIS BUDGET SPEECH TO THE LEGISLATIVE PIERS SAID IT WAS ESSENTIAL THAT A SOUND FOUNDATION WAS IN WHICH TO BUILD FOR HONG KONG'S FUTURE.

A

HEALTHY SURPLUSES EXPENDITURE CHANGED

WHILE NOTING THAT PRUDENT MANAGEMENT IN THE PAST HAD PROVIDED BASICALLY STRONG FINANCIAL POSITION, BUILT UP ON THE BACK OF BUDGET SURPLUSES, THE FINANCIAL SECRETARY POINTED OUT THAT COULD NO LONGER BE TAKEN FOR GRANTED, AND THUS BOTH THE

THE AND

REVENUE STRUCTURE MUST BE

THE ADAPTED TO

CIRCUMSTANCES.

HE SAID THE BOLD AND FAR-REACHING PROGRAMME OF EXPENDITURE DOWN AT THE BEGINNING OF THE NEW DECADE WAS A PROGRAMME DESIGNED FOR COSMETIC OR CONFIDENCE BUILDING PURPOSES BUT BECAUSE HONG NEEDED THE SERVICES AND INFRASTRUCTURE CONTEMPLATED IF THE WAS TO CONTINUE TO PROSPER.

LAID

NOT

KONG

TERRITORY

"OUR PLANNING MUST BE THOROUGH AND WE MUST USE OUR RESOURCES THE BEST ADVANTAGE.

то

BY

Ι

"IT IS CLEAR THAT WE FACE DIFFICULTIES AND UNCERTAINTIES, AND

ΤΟ HAVE ALLUDED

THEM IN THE COURSE OF MY SPEECH, NOT

WAY OF DISCOURAGEMENT BUT AS A SPUR TO ACTION.

"OPPORTUNITIES EXIST, AND IT IS NOW UP TO US TO SECURE OUR FUTURE FOR OURSELVES," HE SAID.

SIR

MAJOR

NEW

STRESSING THE IMPORTANCE OF EFFECTIVE FINANCIAL MANAGEMENT, PIERS

THE SAID

GOVERNMENT WAS EXAMINING WAYS IN WHICH PROJECTS MIGHT MOST SENSIBLY BE FINANCED.

**THE MORE AMBITIOUS OUR PROGRAMMES, THE MORE THE NEED FOR US TO MANAGE OUR RESOURCES PRUDENTLY AND INTELLIGENTLY.

"I HAVE DESCRIBED THE STEPS WE HAVE TAKEN TO CONTROL FUBLIC EXPENDITURE AND I HAVE GIVEN A CLEAR INDICATION THAT THERE IS MORE TO BE DONE," HE SAID.

IN

HE NOTED THAT THE INFRASTRUCTURAL DEVELOPMENT THAT LAY AHEAD,

WERE OF PARTICULAR THE AIRPORT AND THE ASSOCIATED HARBOUR CROSSINGS, INTEREST

DEVELOPED THE PRIVATE SECTOR, AND AS THESE PLANS GOVERNMENT LOOKED FORWARD TO PRIVATE SECTOR INVOLVEMENT.

TO

THE

/"BUT WE