42
would also be prepared to seek vote provision for an annual
subvention to the Council and, if the Council so desired, to
second Government officers to it to enable it to get to work
quickly. The Council could act on its conclusions by
publicity or by persuasion or by recommending action to the
Government. The Government would also be happy to hear
any views the Council may develop as to how relations between the public and those distributors of essential commodities who are in a semi-monopolistic position (for example, the oil companies) could be improved.
119.
I am convinced that with vigour and determination
something can be done. But I am sure honourable Members
will support me when I say that the Government would be
extremely reluctant, to put it mildly, to accept any
recommendations for general price controls or bulk
buying arrangements.
We have seen the effect of such
measures elsewhere: the end result is always confusion and distortion in the market and, furthermore, at a huge cost to
public funds.
120.
(6) Conclusion
I
Sir, this has been an interesting and, to some
extent, a rather surprising budget debate. I hope
honourable Members will feel able to support the motion now that I have endeavoured to remove any misunderstanding
that may have occurred over some of my revenue proposals.
have
tried to do this by being as responsive and as flexible as the Hong Kong economy itself. I hope also
honourable Members are now satisfied that the Government is
concerned with the problem of inflation, whatever may have
been said to the contrary in this Chamber and outside it.
I regret I did not deal with this subject at greater length
in the budget speech though I certainly did not ignore it.
But I have learned my lesson: and so I promise honourable
Members that, next year, I shall not be at such pains to keep
the budget speech short.