FRIDAY, JANUARY 21, 1977
HK'S FUTURE PROGRAMME SUPPORTED BY UK ******
THE GOVERNOR, SIR MURRAY MACLEHOSE, THIS (FRIDAY) EVENING PLEDGED TO DEVOTE HIS LAST YEARS IN OFFICE +TO MAKE HONG KONG THE PLACE IT CAN SO EASILY BE WITHIN A SHORT SPAN OF YEARS.+
HE WAS REFERRING TO THE VARIOUS PROJECTS AND SOCIAL PROGRAMMES THE GOVERNMENT PLANS TO COMPLETE BY THE END OF THIS DECADE OR BY THE EARLY 1980'S.
SIR MURRAY, WHO WAS SPEAKING AT THE DINNER OF THE HONG KONG GENERAL CHAMBER OF COMMERCE, SAID THAT QUESTIONS HAD BEEN ASKED IN RECENT MONTHS WHETHER HONG KONG'S ECONOMY COULD AFFORD THESE THINGS AND EVEN IF IT COULD, WOULD HONG KONG NOT BE FORCED INTO MORE, THAT IT COULD AFFORD THROUGH EXTERNAL PRESSURE.
+TAKING THE POINT OF EXTERNAL POLITICAL PRESSURE FIRST-
I CAN ASSURE YOU THAT SO FAR AS HER MAJESTY'S GOVERNMENT IS CONCERNED THERE IS COMPLETE SUPPORT FOR AND AGREEMENT WITH THE PLANS HAVE REFERRED TO TONIGHT AND OUTLINED TO THE LEGISLATIVE COUNCIL LAST OCTOBER, HE SAID.
+THESE ARE HONG KONG'S PLANS DRAWN UP BY THE HONG KONG GOVERNMENT TO MEET HONG KONG'S OWN NEEDS.
+BUT HER MAJESTY'S GOVERNMENT HAVE A DEEP INTEREST IN THEM, BOTH BECAUSE OF THEIR CONCERN FOR THE WELFARE OF THE PEOPLE OF HONG KONG, AND BECAUSE MINISTERS HAVE A CONSTITUTIONAL OBLIGATION TO TAKE RESPONSIBILITY FOR THEM AND TO DEFEND THEM AGAINST CRITICS IN THE UK BOTH INSIDE AND OUTSIDE THE PALACE OF WESTMINISTER.+
SIR MURRAY WENT ON TO SAY THAT THERE WAS NO EVIDENCE OF ANY INTENTION OR ATTEMPT TO PRESS HONG KONG INTO AN ALIEN OR
INAPPROPRIATE MOULD,
WITH REGARD TO THE FIRST POINT, SIR MURRAY EXPLAINED THAT HE THOUGHT THE PRINCIPAL FEAR WAS THAT THE GOVERNMENT TARGETS HAD BEEN SET SO HIGH THAT THEY COULD ONLY BE REACHED BY A RISE IN TAXATION SO LARGE AS TO UNDERMINE HONG KONG'S ECONOMY.
+THIS IS GROUNDLESS, HE POINTED OUT.
+ IT IS IN FACT A CONTRADICTION IN TERMS, BECAUSE IT IS SO OBVIOUS THAT THE CIRCUMSTANCES OF HONG KONG REQUIRE A FISCAL ENVIRONMENT WHICH IS BOTH ATTRACTIVE IN COMPARISON TO COMPETITIVE COUNTRIES, AND WHICH ALSO ALLOWS A MARGIN OF PROFIT FOR ENTERPRISE AND RISK WIDE ENOUGH TO RETAIN AND ATTRACT CAPITAL FOR THE EXPANSION OF THE ECONOMY AND THE PRESERVATION OF EMPLOYMENT IN THE PARTICULAR CIRCUMSTANCES OF HONG KONG.
>THIS IS NOT