12
WEDNESDAY, APRIL 1, 1992
"A REASONABLE LEVEL OF RESERVES GIVES US THE CONFIDENCE TO PLAN. - LONG TERM. THE CERTAINTY THAT WE CAN CONTINUE TO LOOK AFTER THE PEOPLE
OF HONG KONG BY MAINTAINING SERVICES, HE SAID.
+7
SIR DAVID SAID THIS HAD BEEN ONE OF THE PRIMARY OBJECTIVES WITH THE BUDGET STRATEGY.
CAUTIOUS,
"WE MAY BE CRITICISED FOR BEING CONSERVATIVE OR TOO BUT OUR PRUDENT MANAGEMENT OF HONG KONG FINANCES HAVE STOOD US IN GOOD STEAD OVER MANY YEARS, AND WE HAVE WEATHERED SOME TURBULENT ECONOMIC AND POLITICAL STORMS.
"WE
BELIEVE THAT WE MUST NOT ALLOW THE EFFECTIVE VALUE OF OUR *FINANCIAL CUSHION TO FALL TO A LEVEL WHICH COULD PUT IN JEOPARDY HONG
KONG STABILITY AS WE APPROACH 1997," HE SAID.
THE CHIEF SECRETARY STRESSED THAT THE GOVERNMENT HAD NOT CHANGED COURSE IN THE BUDGET PHILOSOPHY.
"AS THE FINANCIAL SECRETARY HAS SAID IN HIS SPEECH, THE BUDGET PROPOSALS CAREFULLY BALANCE THE ASPIRATIONS OF THE COMMUNITY WITH OUR ABILITY TO MEET SUCH EXPECTATIONS.
"THESE ARE PROPOSALS FOR THE COMMUNITY AS A WHOLE. THIS IS THE SAME PHILOSOPHY THAT HAS SERVED US IN THE PAST.
"
ESTABLISHED
HE SAID THE GOVERNMENT HAD NOT DISCARDED THE LONG PRINCIPLE OF LIMITING PUBLIC EXPENDITURE TO THE RATE OF GROWTH IN THE ECONOMY.
HE STRESSED THAT THE ADMINISTRATION STOOD FOUR SQUARE BEHIND THE FINANCIAL SECRETARY AND THE PACKAGE OF BUDGETARY PROPOSALS HE HAD PUT FORWARD.
CS STRESSES IMPORTANCE OF INDEPENDENT AND PRESTIGIOUS JUDICIARY
AND
THERE CAN BE NO DOUBT THAT MAINTAINING AN INDEPENDENT PRESTIGIOUS JUDICIARY IS ONE OF THE GOVERNMENT'S MOST IMPORTANT TASKS, THE CHIEF SECRETARY, THE HON SIR DAVID FORD, SAID TODAY (WEDNESDAY).
SPEAKING AT THE RESUMED BUDGET DEBATE AT THE LEGISLATIVE
THE STRIVING TO ACHIEVE THIS,
GOVERNMENT COUNCIL, SIR DAVID SAID IN MUST NOT ONLY
THE
THE MAKE SURE THAT
MOST CAPABLE MEN AND WOMEN OF HIGHEST INTEGRITY
ALSO WERE ATTRACTED TO THE JUDICIAL SERVICE, BUT AS A WHOLE WAS RUN IN THAT THE JUDICIARY
THE MOST EFFICIENT AND COST-EFFECTIVE MANNER.
/IN THE
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