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Chief Executive Donald Tsang has hailed the 2006-07 Budget delivered today, which strikes the right balance in promoting economic growth by investing vigorously in Hong Kong's future, providing tax relief to ease the middle class' burden and taking good care of the underprivileged.
Mr Tsang said Hong Kong's robust economic rebound over the last two years and the effectiveness of the Government's cost-saving measures have enabled it to balance the Budget three years ahead of schedule.
He thanked the civil service for its efforts in cutting costs and enhancing efficiency, which is crucial in eliminating the deficit, adding it is a painstaking process and its success depends on the understanding and support of Hong Kong people.
Now the economy has revived, Mr Tsang said the Government will not be complacent, and will continue to move Hong Kong steadily forward so the community at large can share the benefits of prosperity.
"The essence of strong governance is making the most of all opportunities that arise, while people-based governance aims at building a harmonious society. I encourage the community to join hands to achieve these goals," he said.
High standard
Chief Secretary for Administration Rafael Hui said it is a Budget of very high standard because it is never easy to balance the very important principle of prudent financial management, and to respond to the needs of various community sectors.
"I think it is very notable that public expenditure has been kept at a relatively low level without any sacrifice of quality of service and efficiency," he said, paying tribute to the contribution made by the civil service.
Mr Hui said the task has been achieved but it has not been easy.
He is confident the Budget will win support from the community and the Legislative Council, and that all the related legislative amendments can be dealt with and passed in the next few months.
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