President, this is the fourth Budget that I have
presented for Hong Kong
and also the last for the Government of this term.
I was born and grew up in Hong Kong. I am
honoured to have had the opportunity to serve the
citizens of Hong Kong. I
feel greatly encouraged to have witnessed over the
past three years that our economy has returned to
prosperity, our people's livelihood has been
steadily improving, and Hong Kong has regained its vibrancy and confidence.
By displaying resilience and tenacity in the
face of adversity, Hong Kong
people have worked another economic miracle.
In preparing my
annual Budgets, I have adopted a pragmatic approach
based on the principle of prudent management of
public finances, listened extensively to the views
of the community, and borne in mind the long-term
interests of Hong Kong
and the well-being of our citizens. I believe
that my Budgets have achieved good results in
reviving the economy, promoting employment and
improving people's livelihood, as far as possible
benefiting people from all walks of life.
term of office, I have raised some controversial
issues, such as the abolition of estate duty, the
launch of a public consultation on broadening the
tax base and a review of competition policy.
While the community has yet to reach a consensus on
certain issues, it is my firm conviction that I am
duty-bound to raise any proposal that can contribute
to the development of Hong Kong. Upon taking up office as Financial
Secretary, I set myself the objective of reviving Hong Kong's economy. I am absolutely delighted to see
that our economy has now improved so handsomely.
marks the 10th anniversary of Hong Kong's return to China. With the vigorous growth of our nation's
economy and our competitive advantage in having the
Mainland as our hinterland, coupled with our own
international outlook, the economic integration
between Hong Kong and the Mainland has been deepening. Because
of this, I have full confidence in the future of Hong
Kong. Our people can rise to any challenge.
With solidarity and a determined effort to forge
ahead, we will surely realise a bright future for