WEDNESDAY, MARCH 28, 1984
26
SIGNS OF LACK OF CONFIDENCE IN FUTURE
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HU
THE SLOWDOWN IN CAPITAL INVESTMENT IN 1983 WAS A SIGN OF THE LACK OF CONFIDENCE IN OUR FUTURE AND THE PRESENT ATMOSPHERE OF POLITICAL UNCERTAINTY, THE HON F.K. HU SAID TODAY.
+THIS UNCERTAINTY IS LARGELY THE RESULT OF THE CONFIDENTIALITY SURROUND ING THE NEGOTIATIONS BETWEEN THE CHINESE AND BRITISH GOVERNMENTS AND PERSISTS DESPITE INDICATIONS THAT NEGOTIATIONS HAVE BEEN PROGRESSING SMOOTHLY, HE SAID, IN THE LEGISLATIVE COUNCIL BUDGET DEBATE.
MR HU ALSO SAID THAT SPARE PRODUCTION CAPACITY IN THE MANUFACTURING INDUSTRY HAD BEEN PRACTICALLY EXHAUSTED AND THE SALES OF FACTORY PREMISES WERE NOT ENCOURAGING.
HE WARNED THAT LACK OF INVESTMENT BY OUR OWN PEOPLE AT THIS CRUCIAL TIME COULD SERIOUSLY IMPAIR OUR PROSPERITY AND STABILITY IN FUTURE.
+WE HAVE NO NATURAL RESOURCES AT OUR DISPOSAL AND WE MUST HAVE CONFIDENCE IN OUR OWN ABILITY TO ADAPT TO CHANGING SITUATION. AND TO RESOLVE OUR OWN PROBLEMS DURING DIFFICULT TIMES AS WE HAVE DONE IN THE PAST, HE STRESSED.
MR HU SAID THAT HE WAS PLEASED TO NOTE THAT THERE WAS NO CUTBACK ON CAPITAL PROGRAMMES ON AGREED TRANSPORT PROJECTS THAT WERE READY TO PROCEED.
+WE MUST KEEP ON IMPROVING OUR TRANSPORT INFRASTRUCTURE AND ENCOURAGE THE GENERAL PUBLIC TO USE PUBLIC TRANSPORT, FIRST BY IMPROVING ITS STANDARD OF SERVICE, SECONDLY BY ENSURING EFFICIENT OPERATION SO THAT FAIR AND REASONABLE FARES ARE CHARGED.
+THEN THROUGH FISCAL MEASURES, THE GROWTH RATE OF INEFFICIENT ROAD USERS, SUCH AS PRIVATE CARS, SHOULD BE RESTRAINED, + HE SUGGESTED.
HE SAID THAT IT WAS NOT NECESSARY TO ISSUE MORE TAXI LICENCES AS THE WAITING TIME FOR TAXIS HAD BEEN REDUCED CONSIDERABLY IN RECENT YEARS.
TAXI FARES SHOULD BE ALLOWED TO INCREASE, TOGETHER WITH SUITABLE FISCAL MEASURES, TO GIVE THE OPERATORS REASONABLE RETURN EVEN WITH LESS USAGE, HE SAID.
HE SAID THAT FOR THE SAME REASON HE SUPPORTED THE INTRODUCTI OF A CROSS HARBOUR TUNNEL TAX AS A FISCAL MEASURE TO DETER NON- ESSENTIAL USAGE OF THE TUNNEL ON TRAFFIC MANAGEMENT GROUNDS.
A POSITIVE SOLUTION TO THE CONGESTION PROBLEM WOULD E T CONSTRUCTION OF A SECOND CROSS HARBOUR TUNNEL WHICH SHOULD BE LOOKED INTO WITHOUT FURTHER DELAY, HE OBSERVED.
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