CONCLUSION

Mr Speaker, Sir, Singapore has come a long way. More opportunities and challenges lie ahead. To meet the challenges, we must upgrade our skills, technical know-how and the strength of our companies. To do this, we must continue to maintain a conducive fiscal environment for businesses to innovate and thrive. Our tax regime must support the next phase of economic development. In particular, as we gear towards knowledge based activities, attracting and retaining talent will be instrumental in sustaining our economic prosperity.

The Asian and regional economies are growing strongly. We in Singapore can sustain high growth by engaging our economy with the region. In the coming years, international competition will become more intense. Uncertainties will abound. We must be nimble and responsive to external changes while pursuing steadfastly our long term goals and aspirations. If we persevere in upgrading our human resource and domestic technical capabilities and at the same time capitalize on the opportunities abroad, I am confident we will continue to progress and excel in the future. [Applause].

Mr Speaker: The Question is, "That Parliament approves the financial policy of the Government for the financial year 1st April, 1996 to 31st March 1997." 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, 11th March, 1996, Sir.

Mr Speaker: So be it.