WEDNESDAY, OCTOBER 31, 1979
11
GOVT TOLD TO TAKE STOCK AS HK MOVES INTO THE '80S
*****
THE HON. LYDIA DUNN TOLD THE GOVERNMENT THAT IT SHOULD TAKE STOCK OF OUR SITUATION, NOW THAT WE ARE MOVING INTO THE DECADE OF THE 1980'S, AND DECIDE WITH THE UNOFFICIALS ON THE PROBLEMS AND TASKS TO BÉ ACCORDED PRIORITY ATTENTION IN THE COMING YEARS.
SPEAKING IN THE LEGISLATIVE COUNCIL THIS (WEDNESDAY) AFTERNOON, MISS DUNN SUGGESTED FOUR SUCH TOP PRIORITY PROBLEMS AND TASKS:
* THE PURSUIT OF ECONOMIC GROWTH WITH STABILITY=
*
CONTA INMENT OF POPULATION GROWTH AND THE MAINTENANCE OF LAW, ORDER AND SECURITY=
* CONTINUOUS ADAPTATION AND MODERNISATION OF THE
INSTITUTIONS AND PRACTICES OF GOVERNMENT- AND
* AN ACCEPTABLE SETTLEMENT TO SECURE OUR FUTURE.
ON THE FIRST TASK, MISS DUNN NOTED THAT THERE WERE CLEAR SIGNS AROUND THE WORLD THAT OUR LONG-ESTABLISHED PRINCIPLES OF ALLOWING MAXIMUM FREEDOM FOR THE DEVELOPMENT OF ECONOMIC POTENTIAL ARE BECOMING MUCH MORE FASHIONABLE.
MISS DUNN SAID: +CERTAINLY, IN THE FUTURE, AS IN THE PAST, WE MUST AVOID POLICY DECISIONS OF AN INTERVENTIONIST KIND SIMPLY BECAUSE WE PASS THROUGH DEFLATIONARY AND INFLATIONARY PERIODS FROM TIME TO TIME, OR BECAUSE WE ARE POLITICALLY RELUCTANT TO KEEP THE PUBLIC SECTOR UNDER CONTROL.+
SHE SAID HOWEVER THAT SHE WAS NOT A DOCTRINAIRE OPPONENT OF INTERVENTION, AND SHE NOTED THAT THERE WERE SOME PEOPLE AT PRESENT WHO, DISMAYED AND UNSETTLED BY INFLATIONARY PRESSURES, WOULD FAVOUR A GREATER DEGREE OF GOVERNMENT INTERVENTION.
FOR THIS REASON, SHE WOULD, AT THIS POINT, ASK THE GOVERNMENT FOR A DEFINITIVE STATEMENT OF ITS VIEWS ON THE PRESENT HIGHLY DANGEROUS SITUATION IN THE REAL ESTATE MARKET, AND WOULD IN PARTICULAR WANT TO BE ASSURED THAT THE ARGUMENTS AGAINST SOME FORM OF EXTENSION OF RENT CONTROL WERE REALLY COMPELLING.
TURNING TO THE SECOND PROBLEM, MISS DUNN POINTED OUT THAT OUR NATURAL POPULATION GROWTH, FOR 10 AND MORE YEARS UP TO 1977, WAS CONTAINED TO UNDER TWO PER CENT PER ANNUM, BUT IF THE RATE OF LEGAL AND ILLEGAL IMMIGRATION FROM CHINA IN THE PAST COUPLE OF YEARS IS TO CONTINUE, OUR POPULATION WILL BE GROWING AT ABOUT SIX PER CENT PER ANNUM, OR AN EXTRA 300 000 PEOPLE AND MORE EVERY YEAR.
IN THE SHORT TERM, THESE INFLOWS MAY ENLARGE OUR PRODUCTIVE CAPACITY THEREBY HELPING TO KEEP WAGES FROM RISING EXCESSIVELY FAST AND DAMAGING OUR EXPORT COMPETITIVENESS.
/BUT IF