WEDNESDAY, NOVEMBER 5, 1986
33
LIBERAL ECONOMIC SYSTEM ESSENTIAL
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THE MAINTENANCE OF A LIBERAL ECONOMIC SYSTEM SHOULD BE MADE A PRE-REQUISITE WHEN EXAMINING ANY POSSIBLE CHANGES TO HONG KONG'S POLITICAL SYSTEM, THE HON NGAI SHIU-KIT SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
A PRUDENT APPROACH TAKING INTO ACCOUNT THE VARIOUS FACTORS OF HONG KONG'S SUCCESS SHOULD BE ADOPTED IN THE POLITICAL REVIEW NEXT YEAR, HE ADDED WHEN SPEAKING IN THE DEBATE ON THE GOVERNOR'S ADDRESS.
HONG KONG'S PROGRESS AND ECONOMIC PROSPERITY HAD BEEN BUILT ON ITS HIGH DEGREE OF LIBERTY AND NOT DEMOCRACY, HE SAID.
+ IN THE PAST SEVERAL DECADES, THE EXISTING ECONOMIC AND POLITICAL SYSTEMS HAVE PROVED TO BE OPERATING WELL AND VERY SUITABLE TO THE STRUCTURE AND SPECIAL FEATURES OF HONG KONG'S COMMUNITY, + MR NGA SAID.
WHETHER HONG KONG COULD CONTINUE TO ENJOY PROSPERITY AND STABILITY IN THE FUTURE DEPENDED TOTALLY ON WHETHER THE BAS IS OF LIBERTY COULD BE RETAINED.
THE URGENT TASK WAS TO STUDY HOW HONG KONG COULD SECURE ITS ECONOMIC BASE, PROMOTE INDUSTRIAL AND COMMERCIAL INVESTMENT, INCREASE EMPLOYMENT OPPORTUNITIES AND IMPROVE LIVING STANDARDS. IT WAS DESIRABLE NOT TO PROCEED NOW WITH ANY RISKY POLITICAL EXPERIMENTS THAT WOULD LAY A HEAVY BLOW ON INVESTMENT CONFIDENCE IN INDUSTRY AND TRADE.
MR NGA I FELT THE INTRODUCTION OF DIRECT ELECTIONS WOULD BRING ABOUT RADICAL CHANGES TO GOVERNMENT POLICIES AND WOULD DEFINITELY AFFECT LONG-TERM INVESTMENT CONFIDENCE.
HE CONSIDERED IT WAS INAPPROPRIATE AT THE PRESENT STAGE TO ADOPT ANOTHER FORM OF ELECTION IN PLACE OF THE EXISTING SYSTEM.
+WE SHOULD WAIT UNTIL THE PROMULGATION AND IMPLEMENTATION OF THE BASIC LAW, WHEN THE MODE OF CONSTITUTION IN HONG KONG IS CONFIRMED, AND ACT ACCORDING TO THE BASIC LAW,+ HE SAID.
TURNING TO THE SUBJECT OF SETTING UP A CENTRAL PROVIDENT MR NGAI SAID THE SCHEME, IF ADOPTED BY THE GOVERNMENT, WOULD HAVE NO LESS IMPLICATION THAN DIRECT ELECTIONS.
FUND
HE SAID THE ESTABLISHMENT OF A CENTRAL PROVIDENT FUND WITH CONTRIBUTIONS BY BOTH EMPLOYERS AND EMPLOYEES HAD ADVERSE EFFECTS ON THE ECONOMY AS WORKERS WOULD HAVE LESS MONEY TO SPEND AND EMPLOYERS LESS FUNDS TO INVEST.
/+IN ADDITION,