XN000022-1996-03-08 — Page 4

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Transcript of the Financial Secretary's media session

Following is a transcript of the media session by the Financial Secretary, Mr Donald Tsang, after briefing Legislative Council members on the 1996-97 Budget this (Friday) morning:

Question: There have been calls from many groups that there should be further spending on welfare, such as the CSSA. Are you prepared to make concessions and give out more?

FS: We have done what we believe to be possible within our expenditure guideline and there is an overriding aim of mine and my colleagues that we should try to aim to balance the budget for 1996-97. I think in respect of social spending we have done the right thing. We have allowed it to increase in terms of expenditure in real terms - 14.7 per cent in the coming year. I think it is a right balance. But if Members feel that it is not adequate they have to consider in what way we can compensate, what is the additional expenditure, we must give to this. Up to now I still believe it is a right balance, a right provision, for Hong Kong.

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Transcript of SFS's opening statement at post-budge PC

Following is a transcript of the opening statement made by the Secretary for Financial Services, Mr Rafael Hui, at a post-budget press conference today (Friday):

Ladies and Gentlemen,

Good afternoon. In his Budget Speech, the Financial Secretary has underlined the importance of maintaining Hong Kong as an international financial centre into the next century and beyond. Being an international financial centre could indeed help build a prosperous future for Hong Kong. Before my colleagues go into the details of how the financial services sector, in particular the private sector, would assist in furthering the vision of the Financial Secretary, let me make a few general remarks by way of introduction.

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