HK chief lauds financial secretary's 2008-09 Budget

HONG KONG, Feb. 27 (Xinhua) -- Hong Kong Special Administrative Region (HKSAR) Chief Executive Donald Tsang praised Wednesday the 2008-2009 Budget for helping underprivileged groups, returning wealth to the people and laying the foundations for Hong Kong's long-term development.

"Even though our economy is on a rising track, some in Hong Kong have yet to share the fruits of this recovery and prosperity," the chief executive said after Financial Secretary John Tsang presented the 2008-2009 Budget at the Legislative Council.

The chief executive said he endorsed the initiatives to invest in the community and infrastructure, noting that they would help Hong Kong to face future challenges and lay a solid foundation for another golden decade.

He said he hoped Hong Kong people would support the Budget, which was pragmatic and embodied the HKSAR government's commitment to helping those in need and fostering social harmony.

"The Budget has outlined a number of initiatives to alleviate the problems encountered by underprivileged groups through promoting economic development, creating job opportunities and investing in education.

"Given the substantial surplus in 2007-2008, the Budget also proposes a series of tax concessions and one-off relief measures that will benefit various sectors of our community.

"These undertakings all honor the pledges in my election manifesto to leave wealth with the people," he said.