WEDNESDAY, OCTOBER 5, 1977
KK DETERMINED TO PRESS AHEAD WITH SOCIAL PROGRAMMES
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THE GOVERNOR, SIR MURRAY MACLEHOSE, TODAY UNDERLINED THE GOVERNMENT'S DETERMINATION TO PRESS AHEAD WITH ITS MASSIVE SOCIAL PROGRAMMES, DESPITE SOME ECONOMIC UNCERTAINTIES.
+OUR AIM IS A RADICAL IMPROVEMENT IN CONDITIONS OF LIFE AND OPPORTUNITIES FOR ALL, EASED ON AN EXPANDING ECONOMY, SIR MURRAY SAID IN HIS ADDRESS TO THE OPENING SESSION OF THE LEGISLATIVE COUNCIL,
+TO OUR MAJOR PROGRAMMES FOR HOUSING, CRIME PREVENTION, THE VARIOUS SOCIAL SERVICES AND PROTECTION OF LABOUR, HAVE BEEN ADDED NEW THINKING ON EDUCATION, AND ON RELIEF AND SERVICES FOR THE UNDERPRIVILEGED, HANDICAPPED AND ELDERLY MEASURES TO MEET THE CHANGING NEEDS OF THE NEW TERRITORIES AND A DETERMINED EFFORT TO PROVIDE FOR THE ENJOYMENT OF LEISURE. IN ADDITION THERE IS A MASSIVE PROGRAMME OF PUBLIC WORKS AND COMMUNICATIONS, HE SAID.
SIR MURRAY BEGAN BY WELCOMING THE EXCELLENT STATE OF ANGLO/CHINESE RELATIONS WHICH, HE SAID, WAS SOMETHING HONG KONG COULD TAKE CONFIDENCE.
HE SAID THAT THE CHINESE AUTHORITIES AGREED TO INCREASE THEIR DELIVERY OF WATER SUPPLIES AS FROM OCTOBER 1 FROM 24,000 MILLION GALLONS TO 30,000 MILLION GALLONS A YEAR. THIS REPRESENTS +A CONSIDERABLE TECHNICAL FEAT AND A MOST HELPFUL ACTION FOR WHICH WE ARE INDEED GRATEFUL.+
HE THEN REVIEWED HONG KONG'S ECONOMIC FUTURE
IN RELATION WITH THE EEC.
PARTICULARLY
+THE ECONOMIC AND FINANCIAL OUTLOOK FOR 1978 IS REASONABLY GOOD, BUT A PROPER ASSESSMENT IS IMPOSSIBLE UNTIL THE OUTCOME OF THE ESC NEGOTIATION IS KNOWN, HE SAID.
HONG KONG'S TRADING FORTUNES SHOULD BE FAVOURED BY THE FALLING LEVEL OF STOCKS EXPECTED IN GERMANY AND THE PROSPECT OF INCREASED CONSUMPTION IN THE UNITED KINGDOM.
OUR EXPORT PRICES IN HONG KONG DOLLARS HAVE REMAINED STABLE SINCE THE MIDDLE OF 1976- ALTHOUGH THERE WAS SOME APPRECIATION OF THE HONG KONG DOLLAR IN THE SECOND HALF OF 1976 AND EARLY 1977, IT HAS DEPRECIATED IN THE LAST FEW MONTHS.
+50 WITH WORLD PRICES INCREASING AT ABOUT 8 TO 9 PER CENT A YEAR, OUR COMPETITIVE POSITION IS BEING GRADUALLY REGAINED, GIVEN THE COMPARATIVELY OPTIMISTIC FORECASTS FOR WORLD TRADE IN 1978, THE UNDERLYING CONDITIONS FOR MORE RAPID GROWTH IN OUR DOMESTIC EXPORTS COULD BE PRESENT, AT LEAST FOR THE WIDE FIELD OF ITEMS NOT SINGLED OUT FOR DISCRIMINATORY TREATMENT BY THE EEC,+ HE SAID.
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/COMMENTING ON