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The Scheme of the Speech
3. This session opens in a period of continuing
uncertainty and disappointing growth levels in the
economies of the great overseas countries on whose
markets Hong Kong depends, and when our exporters
are having to contend with the new restrictions
imposed on our exports last year. Nevertheless with
Hong Kong's extraordinary enterprise and adaptability
we have maintained a reasonable level of exports and
an unexpectedly high growth rate, a comparatively low
rate of inflation, virtually nil unemployment, and
rapidly rising real incomes. I will revert to the economy
later in this address since there are dark or obscure
patches in this otherwise bright picture. Nevertheless
as the Financial Secretary recently rightly pointed out,
for the time being we continue to prosper. Against this
fairly encouraging background my main theme will be
your Government's
plans for Hong Kong as this decade
ends and the 80s begin.
4. The importance of these long-term goals cannot be
over-emphasised. Obviously what can be done from year to
year must be a matter of judgement in the light of human
and financial resources available and the economic
conjuncture in which we are placed. But it is vital
that this should be against the background of agreed