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WEDNESDAY, MARCH 25, 1981
TO ACHIEVE THIS, MR CHEN SUGGESTED THAT AN ORGANISATION BE SET UP TO WORK IN CONJUNCTION WITH THE SPECIAL COMMITTEE ON LAND PRODUCTION TO IMPLEMENT THE GOVERNMENT LAND POLICY.
GIVEN AN EXTENDED TERMS OF REFERENCE AND ARMED WITH THE NECESSARY MUSCLES FOR ITS TASK, HE WAS CONVINCED THAT THE HONG KONG INDUSTRIAL ESTATES CORPORATION COULD FULFIL THIS ROLE.
+ INCREASING LAND PRODUCTION AS WELL AS ITS AVAILABILITY WOULD RESULT, AS FAR AS INDUSTRY IS CONCERNED, IN REDUCING OVERHEADS FOR INDUSTRIES ALREADY IN EXISTENCE IN HONG KONG AND ENCOURAGING NEW HIGH TECHNOLOGY INDUSTRIES TO COME TO HONG KONG.
+MOREOVER, IT WILL COUNTER THE CRITICISM WHICH IS FREQUENTLY LEVELLED AT GOVERNMENT, RIGHTLY OR WRONGLY, THAT GOVERNMENT IS LIMITING AVAILABILITY OF LAND IN ORDER TO MAINTAIN HIGH LAND PRICES, HE ADDED.
MR CHEN DESCRIBED AS A MOVE IN THE RIGHT DIRECTION+ THE CONCESSION IN DEPRECIATION ALLOWANCES PROPOSED BY THE FINANCIAL SECRETARY TO ENCOURAGE MANUFACTURING INDUSTRIES TO RE-EQUIP AND UPGRADE THE IR PRODUCTION FACILITIES.
BUT HE ASKED: IS IT ENOUGH?
+ IN MY OPINION, TO GIVE THE NECESSARY STIMULUS TO OUR FLAGGING INDUSTRY, SOMETHING MORE IS NECESSARY.
HE NOTED THAT WHILE THE GOVERNMENT WAS UNWILLING TO SUBSIDISE ANY SECTOR OF THE COMMUNITY, MOST INDUSTRIALLY ADVANCED COUNTRIES 1. EUROPE SUBSIDISED THE IR INDUSTRIES BY PROVIDING LONG-TERM LOW-INTEREST FINANCE TO ENCOURAGE EXPORTS, ESPECIALLY EXPORTS OF HEAVY CAPITAL PLANT WHICH OFTEN REQUIRE FINANCING OVER LONG PERIODS.
→OUR INDUSTRIES' NEEDS, HOWEVER, ARE NOT ASSISTANCE GIVEN TO EXPORTS BUT RATHER ASSISTANCE GIVEN TO PURCHASE OF MODERN PLANT AND MACHINERY.
+THIS IS NECESSARY BECAUSE ALMOST ALL OF OUR INDUSTRIAL ESTABLISHMENTS ARE, WITH DUE RESPECT, TOO SMALL TO QUALIFY INDIVIDUALLY FOR, AND TO ENJOY THE BENEFIT OF LONG-TERM LOW-INTEREST CREDITS OFFERED BY EXPORTING COUNTRIES.
+ IN MY OPINION, NO ONE BUT GOVERNMENT CAN AND SHOULD FULFIL THIS ROLE AND I WOULD LIKE TO SUGGEST THAT THIS IS ANOTHER AREA WHERE OUR 'FREE' FISCAL RESERVES COULD PROFITABLY BE UTILISED, HE SAID.
TOUCHING ON TECHNICAL MANPOWER DEVELOPMENT, MR CHEN SAID HE WAS PLEASED TO NOTE THAT THE FINANCIAL SECRETARY HOPED TO SEE A GREATER INVOLVEMENT OF PUBLIC FUNDS ON TECHNICAL EDUCATION.
WHILE I AM NOT UNDULY DISAPPOINTED WITH THE INCREASE IN THE TOTAL PROVISION FOR EDUCATION IN 1981-82 OVER THE REVISED ESTIMATES FOR 1980-81 OF ONLY EIGHT PER CENT, I HOPE THAT AN ADEQUATE PROPORTION OF THIS WOULD BE AVAILABLE FOR INDUSTRIAL TRAINING WHICH I ASSUME WAS INCLUDED IN HIS USE OF THE
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PHRASE 'TECHNICAL EDUCATION' A MATTER ON WHICH I HAVE EMPHASISED MORE THAN ONCE IN THE PAST, MR CHEN SAID.