CONCLUSION

Mr Speaker, Sir, we have seen our economic growth rate levelling down over the last three years. Although the outlook for 1993 is somewhat better, for the longer term we need to change the orientation of our people towards venturing abroad if we are to continue enjoying high economic growth. Government will on its part do whatever is possible to encourage, facilitate and be a partner of an outward economic expansion.

The focus of public expenditures will continue to be on investments which will enhance our economic performance. Our tax changes are designed to promote overseas investments as well as clear the way for the foreign earnings to be repatriated. When the GST is implemented and the tax reform is in place, we will become more competitive.

Our challenge is to claim a bigger piece of that fast-growing economic pie in the region. I am confident that we have what is needed to meet that challenge.

Mr Speaker, 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, 1993 to 31st March, 1994." In accordance with paragraph (1) of Standing Order No. 86, the debate now stands adjourned.

Debate to be resumed on what day, Dr Hu?

Dr Richard Hu Tsu Tau: Monday, 8th March 1993, Sir.

Mr Speaker: So be it.