will also constrain the ability of the Exchange Fund in
its money market operations, although in comparative terms
the borrowings arising from these operations are small.
7.
The approval of the Secretary of State to .
introduce a resolution in this Council to increase the
borrowing limit to $50 billion has, therefore, been
obtained. The relatively large increase is proposed so as
to reduce the number of times it will be necessary to
introduce a similar motion into this Council. In 1980,
the limit had to be tripled in three successive increases
to accommodate the build up of fiscal reserves then
(2)
•
8.
Sir, I beg to move.
(2)
Date of increase
From
To
(HK$ billion)
(HK$ billion)
12. 3.80
7
10
9. 7.80
10
15
17.12.80
15
20
9.12.81
20
30
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