Bright future: Financial Secretary Henry Tang says he is optimistic about Hong Kong's economic prospects, but challenges still lie ahead.

His is not an easy task, Financial Secretary Henry Tang told a public forum today. He has to strike a balance between revitalising the economy, generating revenue and cutting back on spending. At the same time, he must ensure a fair distribution of resources among competing government bureaus.

At the "Talk to Henry" Budget forum at the Cultural Centre piazza, he said he is optimistic about Hong Kong's economic prospects - but there are still many challenges ahead.

Noting the difficulties faced by different sectors of the community - such as the big gap between the rich and the poor and the burden of heavy tax for the middle class - he said the Government will listen more to public views and do its best to improve Hong Kong's economy and employment situation.

However, he stressed, the Government's team spirit is quite strong. Everyone is committed to and working hard to achieve the goals that have been set.

Education crucial for HK's economic growth

Mr Tang reiterated Government's commitment to education. Human resources are Hong Kong's only natural asset and investment in education is key.

The Administration will also strive to improve the social welfare situation. Responding to comments that the Comprehensive Social Security Assistance system is loose, he said the authorities will regularly review policies.

In view of the unemployment situation, he said the Government would consider lowering the age limit for Dependent Parent Allowance.

Mr Tang emphasised that the Government would not invest in infrastructural development unscrupulously. It would only do so when it would benefit the economy and people's livelihood.