||Principles of Management of Public Finances
As Financial Secretary, I will uphold our well-established principles of management of public finances. I will continue to manage public finances prudently by keeping expenditure within the limits of revenues, maintaining a low and simple tax regime, and following the direction of
"Market Leads, Government Facilitates". These principles are all very familiar to you, and I think there is no need for me to explain them again.
In drawing up the first Budget of the Government of this term, I have strictly adhered to three basic principles. First, the Budget should demonstrate the Government’s commitment to our society; second, financial policies should be sustainable; and third, we should be pragmatic in decision making. By following these principles, we strive to ensure that the measures proposed in this Budget respond to the aspirations of the community and lay a solid foundation for our economy to meet future challenges.