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Opinions vary on the reason for the inflation. The official explanation
There is,
is that it is imported from the international economy.
however, certainly an additional element to the effect of easy domestic
credit allied to the continuing high price of land.
12.
In social terms the man in the street feels squeezed, and consequen-
tly protests over increased bus fares etc are the more virulent.
Transport
13. Bus fares apart, transport is a mess and road building has not kept
up with housing and other development.
The formation fo a new transport
branch in the Secretariat may help but this will certainly be one of
the main difficulties facing a new Governor.
Housing
Apart from the controversy
14. As ever, housing is a major headache.
over rent control the difficulty for the lower middle income person in
purchasing a home is an increasingly sore point. The Governor is fully
alive to this subject and intends to improve the home ownership scheme
radically by removing from the cost of home ownership flats the inflated
land value element.
Social Legislation
15. The Governor emphasised strongly to me that the development of
effective social and labour legislation will be a significant problem
in the next few years, He sets particular store on the establishment
of some kind of compulsory insurance scheme and on much better safety
measures.
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