TNAG-1641-FCO40-2288-Budget-of-Hong-Kong-1987 — Page 227

6.2.87

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management of our public finances, given the cyclical

nature of our economy, depends to a great extent on our

continuing to pay close attention to trends and on the

taking of early action where necessary to avoid more

extreme measures at a later date.

145.

The underlying trends now seem favourable, and

it is for this reason that I have felt able to propose a.

budget that represents both further improvements in public

services, and a lowering of the burden on the taxpayer.

But we must be cautious. Again, as I said at the outset,

our economy remains subject to external factors, including

the threat of protectionism. We must therefore be careful

to move too quickly in terms of committing ourselves

to greater expenditure or foregoing revenue.

146.

Sir, let me finally conclude with the thought

that although I have this afternoon often urged caution, I

do not mean timidity. Hong Kong will in the years ahead

face many problems; but with courage, honesty and strength

of purpose it will overcome them. In framing my proposals

I have kept this simple truth in the forefront of my mind.

147.

Sir, I beg to move.

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