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servants. If salary increase is at 10%, our expenditure will be affected immediately. So, please be reminded to handle the matter of reserve carefully. In fact, ours is not a reserve, it should be treated as a trading fund. I hope you understand this.
MISS ADA WONG YING-KAY (in Cantonese):—I think before holding discussions with other Select Committees, the Finance Select Committee should review whether the policy to put in an amount equivalent to 3 months' expenditure as reserve is reasonable. Why should our reserve be pegged at 3 months' expenditure? I think this point has to be reviewed as well.
MR. CHIANG SAI-CHEONG (in Cantonese):—I believe there is no problem about conducting a review.
Mr. Ronnie Wong Man-chiu (in Cantonese):—I request that Mr. CHIANG take the matter back to the Finance Select Committee for discussion. When you, together with other Select Committees, consider how to utilize our $2.6 billion, can you also review the level of our reserve? Ten years ago, our reserve stood at over $100 million, it has now escalated to $2.6 billion. Inflation is a factor. In fact, we should have a fixed amount in mind. I hope you will give thought to this point. We should not be spending money just because we have it.
MR. AMBROSE Cheung Wing-sum (in Cantonese):—Mr. Chairman, the first question I raised was whether the Finance Select Committee had considered the appropriateness of the surplus and whether it was healthy.
My second question was whether we had made good use of our resources. The Chairman has just explained the spirit of the Council's source of revenue which was agreed with the Secretary for the Treasury. If there are questions on the spirit itself, then the best thing to do is to review it. I also ask the Finance Select Committee to consider the factors pointed out by the Chairman. Those factors can be foreseen. Civil service pay adjustment and five years plans are expenditure that can be forecasted. From this approach, I am sure that the Finance Select Committee in cooperation with other Select Committees can devise a more reasonable strategy.
Mr. Chiang Sai-cheong (in Cantonese):—Yes, we can. Thank you for your views, fellow Members. I hope we can make good, reasonable and effective use of our resources.
IV MOTIONS
(1) MR. RONNIE Wong Man-chiu, Chairman of the RECREATION SELECT COMMITTEE, moved as follows:—
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servants. If salary increase is at 10%, our expenditure will be affected immediately. So, please be reminded to handle the matter of reserve carefully. In fact, ours is not a reserve, it should be treated as a trading fund. I hope you understand this.
MISS ADA WONG YING-KAY (in Cantonese):—I think before holding discussions with other Select Committees, the Finance Select Committee should review whether the policy to put in an amount equivalent to 3 months' expenditure as reserve is reasonable. Why should our reserve be pegged at 3 months' expenditure? I think this point has to be reviewed as well.
MR. CHIANG SAI-CHEONG (in Cantonese):-I believe there is no problem about conducting a review.
Mr. Ronnie Wong Man-chiU (in Cantonese):—I request that Mr. CHIANG take the matter back to the Finance Select Committee for discussion. When you, together with other Select Committees, consider how to utilize our $2.6 billion. can you also review the level of our reserve? Ten years ago, our reserve stood at over $100 million, it has now escalated to $2.6 billion. Inflation is a factor. In fact, we should have a fixed amount in mind. I hope you will give thought to this point. We should not be spending money just because we have it.
MR. AMBROSE Cheung Wing-sum (in Cantonese):—Mr. Chairman, the first question I raised was whether the Finance Select Committee had considered the appropriateness of the surplus and whether it was healthy.
My second question was whether we had made good use of our resources. The Chairman has just explained the spirit of the Council's source of revenue which was agreed with the Secretary for the Treasury. If there are questions on the spirit itself, then the best thing to do is to review it. I also ask the Finance Select Committee to consider the factors pointed out by the Chairman. Those factors can be foreseen. Civil service pay adjustment and five years plans are expenditure that can be forecasted. From this approach. I am sure that the Finance Select Committee in cooperation with other Select Committees can devise a more reasonable strategy.
Mr. Chiang Sai-cheong (in Cantonese):—Yes, we can. Thank you for your views, fellow Members. I hope we can make good, reasonable and effective use of our resources.
IV MOTIONS
(1) MR. RONNIE Wong Man-chiu, Chairman of the ReCREATION SELECT COMMITTEE, moved as follows:-
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