WEDNESDAY, JULY 11, 1984
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+THESE PROPOSALS WILL NECESSITATE TRULY ENORMOUS AMOUNTS
OF INVESTMENT BY THE PUBLIC SECTOR IN INFRASTRUCTURE; INFRASTRUCTURE WHICH MUST GO AHEAD IF THAT NECESSARY HIGH GROWTH RATE OF WHICH
I HAVE JUST SPOKEN, AND THE PROGRESS OF WHICH THE GOVERNOR SPOKE LAST AUTUMN, IS TO BE ACHIEVED, HE SAID.
+THE AGREEMENT SOON TO BE SIGNED BETWEEN CHINA AND THE UNITED KINGDOM MUST BE SUFFICIENTLY DETAILED TO GIVE CONFIDENCE TO OUR BUSINESS COMMUNITY - BOTH INDIGENOUS AND FOREIGN SO THAT WE CAN STOP WORRYING ABOUT THE FUTURE AND GET ON WITH THE JOB,+ HE SAID.
HE NOTED IT WAS OF PARTICULAR IMPORTANCE THAT THIS IN TURN SHOULD BREATHE NEW LIFE INTO THE PROPERTY MARKET AND THUS RESTIMULATE THE DEMAND FOR LAND.
IN PRESENT MARKET CONDITIONS THE +WAIT AND SEE+ ATTITUDE TOWARDS CONTINUED INVESTMENT IN LAND MADE IT IMPOSSIBLE TO JUDGE THE EXTENT TO WHICH SALES COULD BE ACHIEVED, HE SAID.
+ IT IS IMPORTANT, FOR OUR ABILITY TO FINANCE THE PUBLIC WORKS PROGRAMME WILL DEPEND IN NO SMALL DEGREE ON THE PROCEEDS OF LAND LEASES, HE ADDED.
+THIS IS ALL THE MORE SO AS WE ARE PROBABLY NOW QUITE CLOSE TO THE CEILING AT WHICH TAX LEVELS CAN BE RAISED WITHOUT DAMAGING OUR SUCCESSFUL ECONOMIC SYSTEM, AND THERE IS A LIMIT TO WHICH WE CAN ISSUE BONDS OR RAISE DEBT WHICH HAS TO BE SERVICED AND REPAID EITHER BY THIS ADMINISTRATION OR ITS SUCCESSOR.
+HOWEVER IT IS FINANCED, THE INFRASTRUCTURE WE CREATE IN THE NEXT DECADE WILL BE VITAL TO THE CONTINUED WELL-BEING OF THIS COMMUNITY WELL BEYOND 1997.
+AND NOT ONLY THIS COMMUNITY, FOR CHINA HERSELF ACKNOWLEDGES THAT THE STONES OF THE MOUNTAIN HONG KONG REMAIN IMPORTANT FOR POLISHING THE JADE OF HER MODERNISATION PROGRAMME - PARTICULARLY IN THE NEARBY SPECIAL ECONOMIC ZONES,+ MR BROWN SAID..
HE STATED THAT WERE THE ADMINISTRATION OF HONG KONG TO BE HANDED OVER TO A NEW AUTHORITY TODAY, THE PRESENT GOVERNMENT COULD DO SO WITHOUT SHAME OF ITS STEWARDSHIP.
+ IT IS THE DUTY OF THIS COUNCIL TO SEE THAT OUR ECONOMIC POLICIES IN THE PERIOD AHEAD ARE DESIGNED AND IMPLEMENTED IN SUCH A WAY THAT WHOEVER HANDS OVER IN 1997 IS ABLE TO DO SO WITH A RECORD THAT REMAINS UNBLEMISHED AND PREFERABLY IMPROVED IN REGARD TO ALL THOSE MATTERS ON WHICH I HAVE SPOKEN, HE STRESSED.
HE SAID THAT NATURALLY POLICIES AIMED IN THIS DIRECTION WOULD RECEIVE THE SUPPORT OF UNOFFICIAL MEMBERS OF THE LEGISLATIVE COUNCIL.
+WE HOPE THAT BOTH CHINA AND THE UNITED KINGDOM WILL ALSO SUPPORT US BY REACHING AN AGREEMENT THAT IS ACCEPTABLE AND HELPFUL TO THE ACHIEVEMENT OF WHAT IS QUITE CLEARLY AN OBJECTIVE COMMON TO ALL PARTIES,+ HE SAID.
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