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FS'transcript (with photos)
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Following is the transcript of remarks (English portion) by the
Financial Secretary, Mr Henry Tang, after attending a Metro Radio
programme this morning (January 6):
Reporter: What is your expectation for
the economic growth next year and also, do you think the Government
will achieve fiscal balance earlier than expected?
FS: Regarding our forecast for next year's
economic growth, I will announce that in the Budget on February
22nd. As far as our target for achieving fiscal balance, it is a
fact that government revenue is in direct correlation with GDP growth.
So with a better-than-expected GDP growth, it is logical to expect
that our revenue will increase alongside. So the circumstances are
favourable that we may be able to announce better-than-expected
results.
Reporter: Is there room for a tax reduction
and are you going to launch a consultation on sales tax?
FS: It is incumbent upon Government to
strike a right balance, we want to strike a balance that we will
share the results of our collective efforts in achieving this better-than-expected
economic growth. This economic growth is not just the effort of
Government, but rather the collective effort of everyone in Hong
Kong. And because everyone has contributed in the past few years
to achieve this recovery, I think it is incumbent on us that if
we have the room for it, if we have the conditions for it, then
we will always try to strike that balance and share the benefits
of the recovery.
Reporter: And the consultation on GST?
FS: As for the consultation on a goods
and services tax, I know this is a very controversial subject and
I guarantee that Government will not introduce a new tax without
a thorough consultation and without giving the public plenty of
time to express their views.
(Please also refer to the Chinese portion
of the transcript.)
Ends/Friday, January 6, 2006
Issued at HKT 11:05
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