TNAG-1641-FCO40-2288-Budget-of-Hong-Kong-1987 — Page 66

SUMMING UP

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140.

That, Sir, concludes my revenue proposals, and I shall

now end with some general observations.

141.

We enjoyed a remarkable year in 1986. I shall say no

more beyond adding that

adding that the results owe much to the hard work

and imagination of the community as a whole.

Hong Kong has a justifiable reputation for getting on with the job in hand. Our business community is vigorous in its pursuit of new markets and opportunities, and our labour force is known for its skill and

energy. These are the traditional qualities of Hong Kong, and

we will continue to prosper if we hold true to them.

142.

In shaping Hong Kong's public finances, I wish to

and preserve

foster an environment in which business can

flourish, not simply because I want to see businesses more profitable, but also because it is only in a favourable business environment that we can expect that investment will grow and well paid jobs will continue to be created. This is the way to maintain stability.

143.

we

In touching upon monetary issues and in particular the financial sector, I mentioned earlier the importance of

reputation. I make no apologies for repeating that a sound

reputation is vital to Our continuing growth in this area. Problems are not unique to any particular financial centre; have seen what has happened elsewhere in the world. All those

involved with financial services, whether in business or in

regulatory or supervisory activities, have a common interest. We must all play our part in maintaining the integrity of the system because if the activities of a few are allowed to damage that system or mar its reputation then all will suffer. Let us not imagine that in this area we are dealing with victimless

crimes.

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/144. As