XN000022-1992-07-08 — Page 30

28

WEDNESDAY, JULY 8, 1992

REPORTER: COULD YOU ESTIMATE THE DECLINE IN THE BOAT PEOPLE COST?

FS:

I HAVEN'T DETERMINED MYSELF TO PUT A FIGURE ON THAT BECAUSE THE KEY THING IS WHEN YOU CAN ACTUALLY CLOSE DOWN A PARTICULAR CAMP. THEN THAT PRODUCES AN IMMEDIATE NUMBER OF PEOPLE WHO CAN BE PUT BACK ON THE BEAT OR WHATEVER. BUT WE ARE HOPEFUL THAT THERE SHOULD BE SOME RELEASE OF STAFF WITHIN THIS FINANCIAL YEAR AS A RESULT OF THAT.

+

REPORTER: SOME OF THE BANKS HAVE UPPED THEIR ESTIMATE FOR GDP GROWTH FOR THE YEAR FROM 5 TO MORE THAN 5, LIKE 5.5 AND 5.7 I THINK THOSE ARE THE TWO FIGURES. ARE YOU CONSIDERING UPPING YOUR FIGURES AND WOULD THAT ALLOW YOU TO INCREASE YOUR SPENDING?

——

FS: NO,

AT THE MOMENT WE'VE DECIDED TO KEEP OUR PRESENT 5 PER CENT FIGURE. REMEMBER THERE'S TWO ASSUMPTIONS BUILT IN HERE ONE WAS THE ASSUMPTION ABOUT THE CURRENT YEAR, BUT IN THE CONTEXT OF THE BUDGET, WE ARE REALLY TALKING ABOUT THE GROWTH ASSUMPTION OVER THE NEXT FOUR OR FIVE YEARS, SO WE DON'T READILY CHANGE THAT. AT THE MOMENT WE ARE. STILL USING 5 PER CENT AS A SORT OF AVERAGE FOR THE NEXT FOUR OR FIVE YEARS. I'M DELIGHTED OF COURSE THAT SOME BANKS ARE FEELING MORE CONFIDENT ABOUT GROWTH, I THINK THAT IS GOOD NEWS. BUT AT THE MOMENT, I'M NOT REFLECTING THAT IN ANYTHING.

REPORTER: (INDISTINCT) ABOUT THAT $5 BILLION, WHAT ARE YOU GOING TO SPEND THE MONEY ON?

FS: WELL, I WOULD BE VERY UNWISE IF I EXPRESS ANY VIEW ON SPENDING PRIORITIES BECAUSE I'M PRECISELY GOING THROUGH A CONSULTATION EXERCISE ΤΟ GATHER OTHER PEOPLE'S VIEWS, IN PARTICULAR IN THIS CASE LEGCO MEMBERS' VIEWS, ON PRIORITIES AND THAT WILL BE ONE OF THE FACTORS WHICH WE TAKE INTO ACCOUNT WHEN WE ARRIVE AT SOME CONCLUSIONS. 30 I HAVE AN OPEN MIND AT THE MOMENT,

REPORTER: DO YOU HAVE AN INITIAL IDEA WHAT THE LEGCO MEMBERS WANT YOU TO SPEND MORE MONEY ON?

FS:

SOME

NO, I WASN'T ASKING THEM THAT TODAY. I WAS GIVING THEM, I HOPE, CONTEXT AND SOME BACKGROUND SO THAT WHEN I MEET THEM BY GROUPS NEXT WEEK, THEY CAN GIVE ME SOME INDICATIONS. I ALSO SAID THAT IF THEY HAVE FURTHER THOUGHTS LATER IN THE WEEK, IF THEY SEND TO ME FURTHER THOUGHTS IN WRITING, OBVIOUSLY I WILL TAKE THOSE INTO ACCOUNT TOO.

REPORTER: DO YOU HAVE YOUR OWN PRIORITY ON YOUR MIND? FOR EXAMPLE, DO YOU WANT TO GIVE TOP PRIORITY ON HEALTH AND WELFARE?

FS: NO, WE DON'T. WE REALLY HAVE NOT MADE THAT DECISION AT ALL.

REPORTER: SOME MEMBERS FELT THE CONSULTATION PERIOD IS TOO SHORT. YOU THINK (INDISTINCT)?

DO

/F5: WELL,

Page 30Page 31