TNAG-1610-FCO40-22132-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1987 — Page 71

1

19

le.

financial planning

Government's long-term

they are known as the resource allocation system. Our present arrangements suffer from not being able to provide us with a means of monitoring performance against demand and, more importantly, not enabling us to respond more flexibly to changing economic and social developments. The new system will improve forecasting methods so that we can predict more accurately the size of our financial cake in future years and then have the ability to plan rationally how it should be shared out between competing government services.

38.

When it is operating fully, this new system should enable us to plan and monitor more efficiently the use of resources across the whole spectrum of Government activities; to allocate resources in a more flexible way; to assess how effectively they are being used; and then to make better decisions on the difficult choices between different priorities.

39.

financial

(f)

Regulation of Financial and Commercial Sectors

Hong Kong has continued to develop as a major

centre.

Private

enterprise

is, and will

/remain

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