SI'
IN
"I HOPE OUR CONSULTATION WITH MEMBERS, COUPLED WITH THE ABILI OF SECRETARIES TO REDEPLOY WITHIN AND BETWEEN THE PROGRAMME
AREAS UNDER THEIR CONTROL, WILL TAKE US A SIGNIFICANT STEP FORWARD DIRECTING OUR RESOURCES TO BEST SERVE THE CHANGING NEEDS OF THE COMMUNITY," HE SAID.
MR MACLEOD SAID TOTAL RECURRENT EXPENDITURE HAD GROWN BY MORE THAN 32 PER CENT IN REAL TERMS OVER THE PAST FIVE YEARS, FROM 1987-88 TO 1992-93.
"THE
CAKE HAS THEREFORE GOT MUCH BIGGER, THOUGH THE SHARE HAS CHANGED IN SOME CASES, REFLECTING THE SHIFT IN PRIORITIES."
"DESPITE THE CONSIDERABLE GROWTH ALLOWED, SPENDING ASPIRATIONS INEVITABLY EXCEED THE ADDITIONAL RESOURCES AVAILABLE. WE MUST SET PRIORITIES AND MAKE THE OPTIMAL USE OF OUR RESOURCES," HE ADDED.
MR MACLEOD ALSO BRIEFED MEMBERS ON THE POSITION OF THE FISCAL RESERVES, NOTING THAT THE EFFECT OF THE ADDITIONAL SURPLUS FOR 1991-92 WOULD BE LARGELY OFFSET BY HIS DECISION NOT TO PROCEED WITH THE PROPOSAL TO INCREASE RATES.
SAID IT
BRIEFING MEMBERS ON THE BUDGETARY SYSTEM, MR MACLEOD WAS BASED ON TRIED AND TESTED METHODS WHICH HAVE SERVED HONG KONG WELL.
OUR
"THIS HAS ENABLED US TO ACHIEVE A BALANCED BUDGET OVER THE YEARS WITH ADEQUATE RESERVES AND HAS ENSURED THAT WE LIVE WITHIN MEANS, HE SAID.
PRIORITIES, THE
AFTER SEEKING MEMBERS' VIEWS ON EXPENDITURE FINANCIAL SECRETARY WILL HAVE ANOTHER ROUND OF CONSULTATION WITH MEMBERS ON REVENUE OPTIONS. THIS IS EXPECTED TO TAKE PLACE IN AUTUMN.
END/
: 15:42:28
01/20'd
}
}
S'I'O
OA_LA_7CCT
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