The 2017-18 Budget
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Budget Speech

Developing the Economy and Improving Livelihood

23.    Specifically, public finance should serve three objectives.  First, the Government must be appropriately proactive in developing the economy and improving people's livelihood.  We must strengthen the competitiveness of and explore new markets for the pillar industries.  We must also help industries over which we have advantages as well as emerging industries and identify growth opportunities so that the economy can prosper in a sustained and diversified manner.  I believe that, as long as all industries can continue to grow and flourish, young people will have better job opportunities, greater upward mobility as well as a platform to realise their dreams.  Only by giving the younger generation hope for the future can our city remain vibrant, joyful and positive.

24.    Whatever is taken from the people ought to be used for the people.  The Government must uphold the principle of people-based governance.  Government resources should primarily be used to improve people's livelihood and cater for the needy groups in the community.  Given limited resources, it is not possible to meet all livelihood-related policy objectives at one stroke.  We must allocate resources according to need and priority, striking a balance between the desired policy outcome and the affordability of the Government and progress towards our goals at a measured pace.



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Last revision date : 22 February 2017