XN000022-1994-03-06 — Page 2

SUNDAY, MARCH 6, 1994

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LOW TAX CRUX OF HK'S PROSPERITY

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A LOW TAXATION POLICY AND A PRUDENT BUDGETARY

ESTIMATE HAVE

CONTRIBUTED TO HONG KONG'S PROSPERITY, THE KOWLOON CITY DISTRICT OFFICER, MR WILLIAM YAP, SAID THIS (SUNDAY) AFTERNOON.

SPEAKING AT THE GIRL GUIDES SHARING DAY, MR YAP ADDED THAT THE LAISSEZ-FAIRE POLICY, A STABLE MONETARY SYSTEM AND A SOUND FINANCIAL MECHANISM ALSO PLAYED A VITAL PART TO THE SUCCESS OF HONG KONG.

MR YAP SAID IT RELIED ON THE JOINT EFFORTS OF THE COMMUNITY KEEP UP WITH THE ACHIEVEMENTS.

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NOTING THAT HONG KONG ACHIEVED A SATISFACTORY GROWTH RATE OF PER CENT IN REAL TERMS LAST YEAR, HE SAID THE GOVERNMENT WAS DETERMINED TO SPEND MORE ON UPGRADING AND DIVERSIFYING ITS SERVICES.

"IN PARTICULAR, THE ELDERLY, THE MENTALLY HANDICAPPED AND THE POOR WILL GET BETTER CARE AND ASSISTANCE.

"THESE IMPROVEMENT PLANS, INCLUDING ENVIRONMENTAL LAW AND ORDER, HYGIENE AND EDUCATION, ARE TO FULFIL THE COMMITMENTS IN LAST YEAR'S POLICY ADDRESS, MR YAP SAID.

PROTECTION, GOVERNOR'S

MR YAP SAID THE GOVERNMENT WOULD CONTINUE TO TACKLE INFLATION AND MINIMISE ITS IMPACT.

BUDGET ENSURES A PROSPEROUS YEAR AHEAD

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THE YAU TSIM DISTRICT OFFICER,

MR BART IRELAND, SAID TODAY

(SUNDAY) THAT THE 1994/95 BUDGET HAD SET THE FOUNDATION FOR A PROSPEROUS YEAR AHEAD.

HE SAID HONG KONG PEOPLE WOULD ENJOY THE FRUITS OF ECONOMIC PROSPERITY AS THE FINANCIAL SECRETARY HAD PROPOSED SHARING THE REVENUE SURPLUS WITH THE PUBLIC THROUGH TAX CONCESSIONS.

OFFICIATING AT THE YAU TSIM DISTRICT FIGHT CRIME CUM ANTI- NARCOTICS CARNIVAL, MR IRELAND ALSO STRESSED THAT THE GOVERNMENT WOULD CONTINUE TO STRENGTHEN LAW AND ORDER IN THE TERRITORY.

NOTING THAT THE CRIME FIGURES IN 1993 WERE AMONG THE LOWEST THE PAST DECADE, MR IRELAND SAID THE GOVERNMENT HAD INCREASED EXPENDITURE FOR THE POLICE TO $8.8 BILLION.

IN

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