XN000022-1996-04-03 — Page 23

—

1

Some have said that constructive co-operation in preparing the next Budget is not achievable. They fear that however good the intentions may be, we will have to sacrifice something vital to secure Chinese support and that Hong Kong's interests will consequently suffer. In short, that a satisfactory 1997-98 Budget is impossible. I do not share those gloomy predictions. Hong Kong people have a record of achieving what others regard as impossible.

Indeed I sometimes wonder if the word "impossible" exists in our mind-set. With good will and hard work we, the Hong Kong people, will succeed.

I believe that in 12 months time, most of these doubts will have been long forgotten.

*

We will have consulted the community, and in particular the Legislative Council, on our expenditure and revenue proposals.

We will have held fast to our budgetary guidelines, which are fully consistent with the Basic Law.

We will have prepared a Budget which will be prudent, fiscally sound and in line with the community's expectations.

It will be a Budget which we will have discussed with the Chinese side at every step of the way, with a consensus on all the key issues.

And it will be a 12-month Budget, acceptable to all, which -God willing - I will have the honour to present to this Council in March 1997 in accordance with the laws of Hong Kong.

Whatever uncertainties may lie ahead of us in the weeks and months to come, let this at least be clear and certain: we will get the money right.

Conclusion

The 1996-97 Budget before Members today is a Budget for the people of Hong Kong. The people of Hong Kong have already reached consensus on it. I urge the elected representatives of the people of Hong Kong - all the elected representatives of all the people of Hong Kong to give it their support. Both in their votes today, and by their deliberations in the weeks ahead. Thank you.

End