 Many tycoons and professionals were appointed to various bodies such as the Hong Kong Basic Law Drafting Committee (BLDC) and Basic Law Consultative Committee (BLCC) to draft the future mini-constitution of Hong Kong.In the wake of the rise of the liberal lobby which demanded a faster democratisation, the conservative bloc formed the Business and Professional Group of the Basic Law Consultative Committee and the Group of 89 led by tycoon Vincent Lo in 1986 to counter the liberal movement.The business elites were concerned about the potential tax increases which might have been introduced by a democratic legislature to fund an expansion of the social budget, fiscal conservatism became an integral feature of the Basic Law, which writes the SAR "shall follow the principle of keeping the expenditure within the limits of revenues in drawing up its budget, and strive to achieve a fiscal balance, avoid deficits and keep the budget commensurate with the growth rate of its gross domestic product" as written in Article 107, reflecting Beijing's and business bloc's interest in having a politically and economically conservative Hong Kong.