Speech by the Chief Executive in delivering “The Chief Executive’s 2018 Policy Address” to the Legislative Council
10. I introduced a new fiscal philosophy in the current-term Government to provide tax concessions to enhance the economic competitiveness of Hong Kong and allocate resources to alleviate people’s burdens and nurture talent. The Financial Secretary had introduced in the first Budget of the current-term Government a broad range of policy initiatives with long-term benefits and earmarked another $388 billion for further investment in the future and enhancing public services.
11. Some may also question whether the Government will, by allocating resources more robustly to improve people’s livelihood, deviate from the principles of fiscal prudence and keeping expenditure within the limits of revenues, thus embarking on the road to a welfare society. My answer is “no”. With our ample fiscal reserves, it is the Government’s responsibility to use resources derived from the community for the good of the community, invest for the future, relieve people’s burdens and enable people from different walks of life to share the fruits of our economic growth.
