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THURSDAY, MARCH 30, 1978
HE KNEW THE EXECUTIVE COUNCIL USUALLY CONSIDERS THE COST OF ADMINISTERING THE LAW BEFORE AND THE FINANCE COMMITTEE IS REQUIRED TO APPROVE ANY PROPOSED EXPENDITURE AFTER THE BILL PASSES THROUGH THE LEGISLATIVE COUNCIL, BUT THEY MEET IN CAMERA.
THE PUBLIC ARE THUS IGNORANT OF THE VITAL INFORMATION AT THE TIME WHEN THEY ARE GIVEN AN OPPORTUNITY TO EXPRESS THE IR OPINION.
IN THE LEGISLATIVE COUNCIL, IT IS NOT POSSIBLE TO WEIGH THE SOCIAL BENEFITS PROPOSED AGAINST THE COSTS INVOLVED. WHEN THE FINANCE COMMITTEE ULTIMATELY DOES LOOK AT THE COST ITS MEMBERS WOULD ALREADY HAVE VOTED IN FAVOUR OF THE BILL.
HE SAW NO REASON WHY A FINANCIAL PARAGRAPH CANNOT BE INCLUDED IN THE EXPLANATORY MEMORANDUM SECTION OF PUBLISHED BILLS.
MR. LO THOUGHT IT EVEN MORE IMPORTANT THAT THE ECONOMIC EFFECTS OF A BILL ARE DISCLOSED AND HE FEARED THAT THE ADMINISTRATION DOES NOT SYSTEMATICALLY ANALYSE THE ECONOMIC EFFECTS OF EACH. PROPOSED MEASURE.
HE SAID THAT WE CANNOT AFFORD TO BE IGNORANT OF THE PRICE THAT WE HAVE TO PAY FOR ANYTHING. +HOWEVER COMPLICATED THE EFFECTS OR COUNTER EFFECTS MAY BE OR AGAINST ANY MEASURE WE HAVE TO COME TO GRIPS WITH IT. WE CAN NO LONGER BLITHELY LEAVE IT TO THE RESILIENCE OF OUR PEOPLE,+ HE SAID.
HE ASKED THAT IN FUTURE, THE MEMBER INTRODUCING A BILL WOULD MAKE AN ECONOMIC ANALYSIS OF IT, APPROPRIATELY DURING
ITS SECOND READING.
ECONOMIC POTENTIAL OF THE SEA
ANOTHER POINT MR. LO RAISED REFERS TO THE ECONOMIC POTENTIAL OF OUR SEA, ONE OF OUR FEW NATURAL RESOURCES WHICH, HE THOUGHT, WE ARE NOT USING WELL.
HE POINTED OUT THAT OUR DRY LAND IS EASILY CARVED OUT FOR DEVELOPMENT FOR MULTIFARIOUS USES BUT THERE IS NO SIMILARITY IN THE CASE OF LAND COVERED BY SEA WATER HOWEVER SHALLOW, BECAUSE OF ARCHAIC LAWS.
HE THOUGHT WE SHOULD ALLOW OUR SEA TO BE DEVELOPED WITH THE SAME FLEXIBILITY SO THAT WITHOUT AFFECTING SHIPPING IT CAN BE PROPERLY DEVELOPED FOR RECREATION AND MARINE CULTURE.
THE ECONOMIC POTENTIAL IS UNKNOWN BUT MAY BE QUITE SUBSTANTIAL EVEN IN EXPORT TERMS. HE URGED THAT THE LAWS BE ADAPTED QUICKLY, +FOR ANY WORTHWHILE DEVELOPMENT INVOLVING HEAVY CAPITAL EXPENDITURE CAN HARDLY BE EXPECTED TO TAKE PLACE UNTIL AFTER THAT IS DONE.+
/MAKING THE BEST .....