Policy Address

Fundamental Solution

123.       As a city economy, Hong Kong must strive for economic growth and wealth creation to address the employment and poverty issues. If we were to maintain welfare-based relief measures on a long-term basis, we would have to overhaul our tax system and increase tax rates. I believe the public would not agree with this approach. The fundamental solution lies in our common efforts in promoting the development of our industries.

124.       My proposal to develop the six industries has won wide support from the community. This reflects our rethinking in response to the financial tsunami, and the realisation that our economy cannot rely solely on its financial sector but needs to diversify.

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