XN000022-1997-03-12 — Page 24

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Governor's statement on the Budget

The following statement is issued by the Governor, the Rt Hon Christopher Patten, today (Wednesday):

"Donald Tsang's budget has struck the right note for the transition. He has stuck faithfully but creatively to the financial policies which are at the heart of Hong Kong's spectacular success, and which provide the foundations for its future growth. It is a positive signal to the rest of the world that for the fifth year in a row we have been able to cut taxes, increase spending on social services and vital infrastructure, and bolster our already impressive reserves. I am sure the community will especially appreciate the Financial Secretary's focus on tax concessions for the sandwich class, and his continuing commitment to improving services to the disadvantaged and deserving."

End

Transcript of FS's

press conference

Following is the transcript (simultaneous interpretation version) of the Financial Secretary, Mr Donald Tsang's press conference at GIS Press Conference Room after delivering the 1997/98 Budget in the Legislative Council this (Wednesday) afternoon:

Moderator: Welcome to this press conference. First of all I would like to remind you that for the photographers on the front row, when you take pictures please do not stand up, otherwise you will be blocking the view of the simultaneous interpreters.

The Financial Secretary will be answering your questions in a while and as you can see, we have got Mr K C Kwong and Mr Mike Rowse accompanying our Financial Secretary today. Mr Kwong is the Secretary for the Treasury and Mr Rowse is the Director of Business and Services Promotion Unit.

When you want to put questions to the FS, please first raise your hand and I will point at you showing that you have the floor. The press conference will have to be wrapped-up at around 6 o'clock and the last two questions will be called around 5.50, and the last two questions will be one in English and one in Chinese and then that will mark the end of today's press conference.