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X. Conclusion
192. Mr President, Honourable Members and fellow citizens, steady economic development throughout the first one and a half years of the current-term Government has landed us in a relatively strong fiscal position. I have stated candidly in public many times that even with such financial strength, I do not consider it appropriate to hand out cash to everyone. Instead, money should be spent on helping those in need, improving the quality of life for all, enhancing our competitiveness as a whole, nurturing the next generation and making long-term investments.
193. The implementation of the policies and initiatives announced in this Policy Address will incur a substantial amount of additional recurrent expenditure. It demonstrates the determination of the current-term Government to tackle the root of the entrenched problems in our society. In particular, it shows our commitment to alleviating poverty, caring for the elderly, supporting the disadvantaged, nurturing the youth and enhancing the quality of public healthcare services.
194. Hong Kong has adequate fiscal reserves and assets, and has often recorded fiscal surpluses in recent years. However, tackling the root of persistent problems will lead to a continuous increase in expenditure. The Government has the responsibility to keep expenditure within the limits of revenue. It requires us not only to control expenses, but also to increase revenue. We should uphold the principle of fiscal prudence, and more importantly, foster economic development.
195. The policies and measures set out in this Policy Address reflect both our determination and confidence in promoting economic growth. I firmly believe that it is imperative to pursue people's livelihood and develop the economy in tandem. The determination of the current-term Government is premised on its understanding of the needs to increase expenditure as well as the importance of economic development. Close to the rapidly growing PRD region, Hong Kong has a sound legal system, a well-developed market management system, a business-friendly environment, and an extensive pool of international expertise. We also have the staunch support of our country. They provide the foundation on which we built our confidence. Our attitude determines our future. If the people of Hong Kong adopt a positive attitude and strive to achieve more, and if everyone is willing to walk an extra mile and do more, we will have the economic strength to support the needy and let the youth flourish. We will be able to unleash Hong Kong's potential and enable our seven million people to live a better life.
196. Mr President, Honourable Members and fellow citizens, in addition to the progress and new policy initiatives that I have just outlined, the Policy Agenda published today provides details of over 160 new initiatives and more than 430 ongoing initiatives in eight policy areas. In line with our strategies to promote economic development and improve people's livelihood, these initiatives embody the principle of my Manifesto that the Government must be appropriately proactive and seek change while maintaining overall stability.
197. The work of my Government is beginning to bear fruit. I must thank Principal Officials and civil servants for their unflagging efforts, and members of various advisory bodies for their active involvement. I am also grateful for the support of the Central Government, collaboration of the Legislative Council and the trust of the people of Hong Kong.
198. Thank you.
Ends/Wednesday, January 15, 2014
Issued at HKT 13:02
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