57.     The importance of talent to economic development has been thrown into sharp relief by globalisation.  While containing overall expenditure, we will continue to invest heavily in education.  The allocation for education in 2005?6 will still represent the biggest share, or nearly one quarter of recurrent expenditure.

58.     The Government will also endeavour to attract more talented people and professionals from overseas and the Mainland, so as to upgrade our human resources and meet the needs of Hong Kong in its transition to a knowledge-based economy.  As I mentioned in last year's Budget, I head a committee to ensure the smooth operation of the assessment procedures under the Admission Scheme for Mainland Talent and Professionals.  Since the introduction of the scheme in July 2003, we have received nearly 7 000 applications, over 80 per cent of which have been approved.  The applications cover a wide range of sectors including academic research and education, commerce and trade, financial services, culture and the arts, and information technology.

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