Hong Kong leader Donald Tsang Wednesday hailed the 2007-08 Budget presented by his financial secretary to the Legislative Council as an embodiment of the " always people first" concept of governance.

Tsang, chief executive of the Hong Kong Special Administrative Region, commended the Budget initiatives to improve employment, the economy, and people's livelihood as "proactive and pragmatic".

He noted that the Budget had made the most of the opportunities arising from a growing economy and introduced innovative ideas to sustain growth, create jobs, help the disadvantaged and improve people's livelihood.

"Given our fiscal position, the Budget has proposed a series of tax concessions and one-off relief measures that will benefit different sectors. It fulfills the government's pledge to place wealth in the hands of the people," he said.

The chief executive was pleased that Hong Kong's economy had been growing for the past few years, while employment had hit successive new highs. "I urge the community to seize the present opportunity and join hands to build a harmonious, prosperous and beautiful new Hong Kong," he said.

He also thanked members of the community and the civil service for their joint effort in restoring stability in public finances.

Source: Xinhua