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HONG KONG LEGISLATIVE COUNCIL -- 14 March 1984
When we do ponder on these matters we should not lose sight ofree important points:—
Firstly, the economy's capacity for growth depends vitally on investment. Secondly, this has perhaps not been so obvious in recent years because of the rapid growth of the service sectors, which require relatively low fixed investment, and
Thirdly, the point has been reached where the need now is for investment in high technology industries, which require relatively long term commitments, and are thus usually the first casualties in any reduction in investment plans.
Sir, I am an optimist, not a pessimist, but as the Financial Secretary said in this Chamber at our last meeting uncertainly is possibly a larger threat than lack of confidence. The business community's confidence cannot be maintained indefinitely with little else to go on except assurances that useful and constructive talks are in progress. However true that may be business needs to have more details and an opportunity to discuss them.
Sir, having an opportunity to discuss the proposals for our future, and to indicate acceptability or otherwise, is quite different from participation in the negotiations regarding those proposals. For historical reasons that stool has only two legs—an arrangement we all pray will achieve long term stability, notwithstanding I might add any reservations one would have of furniture of similar design. (laughter)
It was Socrates who said, 'I am not a politician and all my other habits are good'. Sir, Unofficial Members of this Council feel an affinity with him, for we are plainly not politicians, and we view these political issues through our normal business eyes. To my, perhaps, naive eyes the issue is quite simple. There is a public commitment by both China and the United Kingdom to reach an agreement that is acceptable to the people of Hong Kong. I said earlier that I believe I am an honest man, and an honest man must surely ask how can acceptability be assumed, and the joint commitment honoured, unless the proposals are put to the people of Hong Kong before the agreement is signed? I repeat, how can anyone say that this joint commitment has been honoured unless proposals are put to the people of Hong Kong before an agreement is signed?
This Council may not be the only forum in which such test of acceptability can, or will be judged, but it is one of the most, if not the most important one. We have a duty to see that such debate occurs, not only to ourselves, but also to the negotiating parties, for it is surely in the interest of al that the agreement is not based on false assumptions as to the true wishes of our citizens.
For many reasons, Sir, but for this last one, this human factor one above all, I support the motion.