TNAG-2708-FCO40-3914-House-of-Commons-Select-Committee-on-Foreign-Affairs-and-Par-1993 — Page 5

FOR PRU USE ONLY

PARLIAMENTARY QUESTION

HOUSE OF COMMONS: FOR WRITTEN ANSWER

HEAD OF

Please submit:

44

NOON

05/03/93

WRITTEN ANSWER ON

08/03/93

DATE TABLED:

HKD

02/03/93

a draft answer and background

WHITE O.P. DATE

to Parliamentary Relations Unit before

FOR

04/03/93

NON PRIORITY

SERIAL NO:

2082

No 136

QUESTION

MR MARTIN REDMOND [DON VALLEY] [LA]

To ask the Secretary of State:

what are Governor Patten's proposals for current economic reforms in Hong Kong; and if he will make a statement.

H&B 01/6

RECE IN REGISTRY

19 MAR 1993

TO PS/

(Minister)

FOR ANSWER BY

MR GOODLAD

An 713

for approval by ASAP

Depre

NOON

-8 R 1993

PQs

Reply

ANSWER

SK OFFICER

PA

REGISTRY *ton Taken

MR COODLAD

(Minister)

The Governor of Hong Kong made clear in his Address to the Legislative Council on 7 October 1992 that he would maintain the policies that have generated economic success in Hong Kong, including low predictable taxes, Government spending which does not outpace economic growth and the encouragement of competition. In his Budget on 3 March, Hong Kong's Financial Secretary confirmed that Hong Kong's economy continues to perform strongly. proposed tax cuts, increased expenditure on priority areas, and measures to assist Hong Kong's most disadvantaged citizens. He also forecast an increase of HKD6.8 billion in Hong Kong's projected reserves in 1996/97.

He

Copy to:

Private Secretary

PS/

(Minister)

Parliamentary Clerk

hogg.pq.ADM

SLM

in Wk 1913.

?

Authorised

(Head of Dept)