In
17.
the meantime, various improvements are being carried out by both the Stock Exchange and the Futures Exchange
in order to deal with immediate problems that have been identified. It is important that where steps can be taken to further safeguard investors those steps should not be delayed pending the recommendations of the Securities Review Committee.
18.
The Government, for its part, continues to put together proposals in relation to the disclosure of beneficial
interests in the shares held by directors and other substantial
shareholders of public listed companies. Comments on the
published White Bill have been received and I intend to seek the
advice of the Executive Council in the near future. The subject of insider trading is also under active consideration, and again
I am on the point of taking proposals to the Executive Council.
PRESENT STATE OF PUBLIC FINANCES AND REVISED ESTIMATES FOR 1987-88
19.
I turn now to the present state of our public
finances. In sum, the expected position at the end of the
financial year 1987-88 is one of higher than
of higher than forecast revenue yields but with expenditure close to budget. The surge in government revenue which began in 1986-87 has continued through
1987-88. Two years of double-digit economic growth have lifted
our revenue base significantly.
/20. The
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