11
Wednesday, November 14, 1973
He pointed to a number of problems which called for attention.
Among these he first listed inflation and the rising living costs, since
"they are regarded by most people as even more serious immediate problems
in day-to-day living than crime, corruption, transport and housing."
"Government should consider setting up an Economic Development
Advisory Comittee with all possible speed to foster economic growth,
create employment and implement a balanced social policy," he said.
if set
One of the first items this Committee should press for
would be an overall land policy, particularly for industrial development
in the New Territories.
up
He warned that Hong Kong would lose out if the government was
not to straighten out its policies and make quick decisions on applications
for land for industrial development.
Referring to the need for stabilising prices of essential foodstuffs,
Mr. Cheong-Loen pointed out that a pragmatic approach in providing regular
supplies and efficient distribution of the commodity as had been done
successfully with rice was required.
He said it was true that in the case of vegetables, fish and fresh
meat, it was not possible to keep a three-month reserve supply as for rice,
and that world prices of imported essential foodstuffs could not be controlled
by the Hong Kong Government.
But it was within the power of the Government to regulate to some
extent rampant speculation and profiteering on the local prices of essential
commodities tho added.
/He urged