CONCLUSION

In conclusion, Mr Speaker, Sir, the outlook for Singapore this year is one of guarded optimism. Singapore's economic fundamentals remain sound. The ending of the Gulf war has removed a major cause of uncertainty. The Asia Pacific region is also expected to show rapid growth. This will offset some of the adverse effects of the expected slow-down in the major developed economies.

Nevertheless, we should be mindful that the situation in the Gulf remains highly volatile. We must, therefore, remain vigilant. The fiscal measures introduced in this Budget are designed to enable us to broaden our economic base and to tap into regional growth. This will build greater resilience into our economy. Our economic policies will also be kept flexible to counter any major problems that may arise. Government will continue to invest in its people.

Our economy has performed well for four consecutive years now. We cannot expect such progress to continue without a hitch. There will always be occasional difficulties which will slow us down. But these should not distract us from our long term goal of becoming a developed nation by the turn of the century. I am confident that with a well-educated and highly motivated people working in close co-operation with the Government, this goal can be achieved.

Sir, I beg to move. [Applause].

Mr Speaker: The Question is, "That Parliament approves the financial policy of the Government for the financial year 1st April, 1991 to 31st March, 1992." In accordance with paragraph (1) of Standing Order No. 84, the debate now stands adjourned.

Debate to be resumed on what day, Dr Hu?

Dr Richard Hu Tsu Tau: Monday, 11th March, Sir.

Mr Speaker: So be it.