XN000022-1991-03-06 — Page 45

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WEDNESDAY, MARCH 6, 1991

THE

(AMENDMENT)

PROPOSALS IN THE

KOWLOON-CANTON RAILWAY CORPORATION BILL 1991 HAVE BEEN DISCUSSED WITH AND ARE SUPPORTED BY

THE KOWLOON-CANTON RAILWAY CORPORATION.

HE SAID THE TWO BILLS WERE IN VIRTUALLY IDENTICAL TERMS.

DEBATES ON THE BILLS WERE ADJOURNED.

THREE BILLS INTRODUCED INTO LEGCO

THREE BILLS WERE INTRODUCED FOR FIRST AND SECOND READINGS IN THE LEGISLATIVE COUNCIL MEETING TODAY (WEDNESDAY).

THEY WERE THE MASS TRANSIT RAILWAY CORPORATION BILL 1991, KOWLOON-CANTON RAILWAY CORPORATION (AMENDMENT) AND APPROPRIATION BILL 1991.

DEBATES ON THE BILLS WERE ADJOURNED.

(AMENDMENT) BILL 1991

0

FS'S SPEECH ON TV AND RADIO

*

+

FOLLOWING IS THE TEXT OF THE BUDGET SUMMARY DELIVERED BY THE FINANCIAL SECRETARY ON TELEVISION AND RADIO STATIONS THIS (WEDNESDAY} EVENING:

"THIS AFTERNOON, IN THE LEGISLATIVE COUNCIL, I PRESENTED MY BUDGET FOR

1991-92 AGAINST A BACKGROUND OF MUCH UNCERTAINTY IN THE WORLD TODAY. THE GULF CONFLICT AND ITS AFTERMATH, AND RECESSION IN SOME OF OUR MAJOR MARKETS CLEARLY HAVE AN EFFECT ON HONG KONG'S OWN ECONOMY. BUT ALTHOUGH WE ARE VULNERABLE TO EXTERNAL EVENTS, THERE IS STILL MUCH THAT WE CAN DO TO GUIDE OUR OWN DESTINY. I STRESSED THAT HONG KONG REMAINS ITS STRONG AND RESILIENT SELF AND INDEED I EXPECT THE ECONOMY IN 1991 TO PERFORM BETTER THAN IT DID LAST YEAR.

"MY SPEECH CENTRED ON THREE MAJOR THEMES. FIRST, THE IMPORTANCE OF CONTROLLING PUBLIC EXPENDITURE. SECONDLY, THE STRENGTH OF OUR FINANCIAL POSITION. AND THIRDLY, HOW WE WOULD FINANCE OUR PROGRAMME OF MAJOR WORKS, INCLUDING THE NEW AIRPORT.

"IN MANAGING OUR FINANCIAL AFFAIRS, WE MUST ENSURE THAT WE ARE BOTH EFFECTIVE IN PROVIDING SERVICES, AND EFFICIENT IN OUR USE OF RESOURCES. I EXPLAINED THIS AFTERNOON HOW WE LOOK CAREFULLY AT WHAT WE SPEND, AND HOW WE CONTINUOUSLY SEEK SAVINGS, OFTEN THROUGH INCREASED PRODUCTIVITY. WE LOOK FOR IDEAS FROM POLICY BRANCH SECRETARIES, FROM DEPARTMENTS, AND INDEED FROM MEMBERS OF THE PUBLIC.

/"WE HAVE