TNAG-2470-FCO40-3594-Budget-of-Hong-Kong-1992 — Page 106

carefully

controlled.

quarter of our

We

will be devoting only about a

spending over the next few

public works

years to the Airport Projects. The other 75% of our public

works spending will be devoted to providing the buildings,

the roads, the environment-related schemes which Hong Kong

needs to upgrade the quality of life quite separately from

the airport.

6.

our

We are

determined to press ahead with improving

We must continue to invest in our

on-going programmes.

As a result, the Government has substantial

It is only sensible that we should set aside

future.

commitments.

adequate

reserves

uncertainties♬

So,

$5.1 billion in

$2.4 billion to be

increase our fiscal

as

a cushion against future

I have budgeted for a surplus of

the coming year which, with the

raised by our bond programme, vill

reserves to around $99 billion by the

And our projections show we should

billion reserves by 1997. I think

end of March 1993.

still have around $70

this is the right level of insurance which Hong Kong needs

in an uncertain world.

7.

I

1

would now like to explain my revenue

proposals.

course.

I have had to look for additional revenue of

But I have also had wider aims. I want to avoid

And, through tax concessions to

adding to inflation.

reduce the tax burden on a broad section of the community.

80'd

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