TNAG-1390-FCO40-1862-Future-of-Hong-Kong-briefing-for-meetings-and-visits-1985 — Page 69

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property values, and political uncertainty over the future. With

uncertainty removed by the agreement, and Hong Kong's economy

benefitting from renewed confidence, the Financial Secretary looks

forward to a return to balanced budgets in a year's time.

(ii) FURTHER DEVELOPMENT OF REPRESENTATIVE

7.

GOVERNMENT

Meanwhile, in the aftermath of the agreement a further stage in the development of representative government in Hong Kong will take

place this year:

(a) the second round of elections to the local government District

Boards are taking place in March;

(b)

a provisional Regional Council will be established to provide a

regional representative body for the New Territories (having

the same functions as does the Urban Council for Hong Kong

Island and Kowloon); and

(c) in September the first (indirect) elections to Hong Kong's

Legislative Council will take place, to select 24 of the

Council's 56 members. A further review of progress towards

representative government will take place in 1987, before the

next Legislative Council elections scheduled for 1988.

Forexiera

Hong Kong Department

8 March 1985

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