XN000022-1994-03-02 — Page 15

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WEDNESDAY, MARCH 2, 1994

THE FINANCIAL SECRETARY SAID HE BELIEVED THE COMMUNITY WISHED HIM TO PRESENT A BUDGET THIS YEAR WHICH WOULD MEET FOUR EXPECTATIONS:

* FIRST, THE EXPECTATION THAT THE GOVERNMENT WILL CONTINUE TO RAISE THE STANDARDS OF ITS OWN SERVICES TO THE COMMUNITY, IN PARTICULAR THROUGH FUNDING THE OVER 100 UNDERTAKINGS FOR 1994 ANNOUNCED BY THE GOVERNOR IN HIS POLICY ADDRESS TO THIS COUNCIL LAST OCTOBER.

* SECONDLY, THE GOVERNMENT MUST GO ON IMPROVING THE SOCIAL AND PHYSICAL INFRASTRUCTURE ON WHICH THE FUTURE CREATION OF WEALTH WILL DEPEND.

*

*

THIRDLY, IN A YEAR OF BUOYANT REVENUES, THE GOVERNMENT SHOULD TAKE THIS OPPORTUNITY TO LEAVE MONEY WHERE IT CAN DO MOST GOOD, IN THE POCKETS OF THE TAXPAYERS.

INFLATION

FINALLY, THE GOVERNMENT SHOULD CONTINUE TO FIGHT AND TO RELIEVE ITS IMPACT UPON THOSE HARDEST HIT.

"THESE ARE THE PRIORITIES THE COMMUNITY HAS SET, AND WHICH I

ACCEPT."

HE RESTATED THE FUNDAMENTAL ECONOMIC POLICIES OF THE GOVERNMENT, POLICIES WHICH HE BELIEVED COMMAND THE FULL SUPPORT OF THE COMMUNITY AND OF LEGCO.

THESE PRINCIPLES, SO FUNDAMENTAL ΤΟ HONG KONG'S ECONOMIC SUCCESS, ARE:

* FREE TRADE AND FAIR MARKETS, WHICH REMAIN THE BEST

GUARANTEES OF ECONOMIC EFFICIENCY,

*

A

STABLE CURRENCY AND A SOUND FINANCIAL SYSTEM, BOTH ESSENTIAL FOR BUSINESS CONFIDENCE,

* LOW AND PREDICTABLE TAXES, TO MINIMISE THE BURDENS ON THOSE

WHO CREATE HONG KONG'S WEALTH AND ENCOURAGE NEW INVESTMENT, AND

*

PRUDENT BUDGETS, SO THAT PUBLIC SPENDING DOES NOT OUTSTRIP THE RATE OF ECONOMIC GROWTH.

"IT IS OF COURSE ALSO FUNDAMENTAL THAT THE BROADER SHOULD BE SUPPORTIVE OF OUR ECONOMIC SUCCESS.

ENVIRONMENT

EFFICIENT AND MEDIA AND A

"I REFER IN PARTICULAR TO THE EXISTENCE OF AN HONEST ADMINISTRATION, THE RULE OF LAW, A QUESTIONING LEGISLATURE ABLE AND WILLING TO MONITOR AND QUERY THE EXECUTIVE, HE

SAID.

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