WEDNESDAY, MARCH 28, 1979
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SUCH A ONE, WHICH WOULD BE USED AS A SECOND AIRPORT, COULD BE LESS EXPENSIVE AND WOULD SERVE PARTICULARLY THE TWO MILLION RESIDENTS WHO WILL BE LIVING IN THE NEW TERRITORIES BY THE END OF THE 1980'S.
SINCE BUDGET FARE TRAVEL IS NOW A COMMON PHENOMENON, HE ALSO ASKED THE GOVERNMENT TO EXAMINE THE LONG-TERM IMPLICATIONS OF TOURISM FOR HONG KONG, AND ITS PART IN THE HONG KONG ECONOMY IN REAL TERMS.
AS A MEASURE TO ALLAY INCREASING SIGNS OF RESTIVENESS WITHIN THE CIVIL SERVICE,+ MR. CHEONG-LEEN SUGGESTED THAT PERHAPS A SET OF PRODUCTIVITY GUIDE-LINES CAN BE WORKED OUT WHICH WOULD BE REALISTIC AND ACCEPTABLE TO THE CIVIL SERVICE UNIONS GENERALLY,
A SYSTEM OF PRODUCTIVITY BONUSES COULD ALSO BE DEVISED FOR THOSE WHO ARE PROFESSIONALS, TO OVERCOME RECRUITMENT PROBLEMS, HE SAID.
HE THOUGHT MANY MORE PEOPLE ARE CAPABLE AND WILLING TO PAY INCOME TAX ALTHOUGH THEY HAVE NOT BEEN APPROACHED BY THE GOVERNMENT, AND SUGGESTED THEREFORE THAT IT CASTS ITS TAX NET WIDER BY SENDING NOTICES TO SUPPLY INFORMATION ON INCOME TO ALL RESIDENTS WHO ARE OVER 18 OR 21 AND WHO HOLD IDENTITY CARDS.
INFLATION SHOULD BE CURBED WITH MORE PUBLIC SUPPORT AND MR. CHEONG-LEEN SUGGESTED THAT THE GOVERNMENT EXPLAIN THIS IN SIMPLE AND PRACTICAL TERMS TO THE PUBLIC WHILE AT THE SAME TIME ESTABLISHING A PREMIUM SAVINGS BOND SCHEME TO ENCOURAGE SAVINGS.
THE BONDS COULD BE IN DENOMINATIONS OF SAY $50, $100, $500 AND $1,000 AND AN ATTRACTIVE INTEREST RATE OF ABOUT EIGHT PER CENT COULD BE OFFERED.
HE FURTHER SUGGESTED THAT PERHAPS A BALLOT COULD BE HELD EVERY MONTH OR EVERY THREE MONTHS IN WHICH THE SELECTED NUMBERS WOULD DIVIDE UP THE ACCUMULATED INTEREST TAX FREE, WHILE THOSE NUMBERS NOT DRAWN WILL HAVE TO FOREGO RECEIVING ANY INTEREST.
THE OVERHEATED DOMESTIC AND COMMERCIAL REAL ESTATE MARKET COULD BE COOLED DOWN BY INCREASING DOWN PAYMENT FROM 30 TO 50 PER CENT AND REDUCING THE PAYMENT PERIOD FROM 10 TO FIVE YEARS.
MR. CHEONG-LEEN SAID HONG KONG'S FUTURE WOULD NEED TO BE PROJECTED IN SPECIFIC PLANNING TERMS, PARTICULARLY IN THE AREAS OF TECHNICAL EDUCATION, PRODUCTIVITY AND MANPOWER DEVELOPMENT, TRANSFER OF RESOURCES TO TECHNOLOGY-ORIENTED AND CAPITAL- INTENSIVE INDUSTRIES, AND COMBINATION OF HONG KONG'S MARKETING AND TECHNOLOGY-ORIENTED RESOURCES WITH CHINA'S MANPOWER.
HE HOPED THERE WOULD BE MORE FLEXIBLE INTERFACING BETWEEN THE ADMINISTRATION'S FIVE-YEAR DEVELOPMENT PLAN AND THE FIVE-YEAR FINANCIAL FORECAST, IN BOTH ECONOMIC AND SOCIAL DEVELOPMENTAL TERMS.
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