26
"I HAVE NO DOUBT, HOWEVER, GIVEN THAT BE OPERATING AT NEAR FULL CAPACITY, THAT ANY
RESULT IN BE INAPPROPRIATE AND COULD WELL THAN GREATER REAL GROWTH, MR JACOBS SAID.
PI
WEDNESDAY, MARCH 2, 1988
THE
ECONOMY WILL STILL FURTHER STIMULUS WOULD HIGHER INFLATION RATHER
PARTICULARLY
CONSCIOUS THAT HIS HE SAID HE WAS PROPOSALS IMPLIED REAL GROWTH IN SPENDING IN 1988-89 HIGHER FORECAST FOR ECONOMIC GROWTH.
EXPENDITURE THAN HIS
OF THE CIVIL "FURTHERMORE, THE INDICATIONS ARE THAT THE SIZE
NEXT FEW YEARS, AT A SERVICE IS SET TO INCREASE, FOR AT LEAST THE
HE ADDED. RATE FASTER THAN THAT OF HONG KONG'S LABOUR FORCE,"
HE SAID IT WAS INEVITABLE, HOWEVER, THAT IN SOME YEARS SPENDING WOULD BE ABOVE THE TREND.
THE LONGER TERM "CONTINUING CARE IS NEEDED TO ENSURE THAT IN
REGARD, WE WE MOVE BACK TO OUR PLANNING CRITERIA. IF WE FAIL IN THIS
EXPENDITURE GROWTH RATES THAT MAY FIND OURSELVES LOCKED INTO HIGH CANNOT BE REDUCED IF AND WHEN CIRCUMSTANCES TURN AGAINST US.
ΤΟ
RATES
'WE COULD THEN FIND OURSELVES IN A POSITION OF BEING FORCED
THAT INCREASE, ERODE SIGNIFICANTLY INCREASE TAXATION, AND, THROUGH OUR COMPETITIVE EDGE BEARING IN MIND THE MOVE TOWARDS LOWER TAX WORLDWIDE, MR JACOBS ADDED.
11
"BUT LET ME NOT END ON SUCH A SOMBRE NOTE,
"HONG KONG HAS PROSPERED OVER THE LAST TWO
SOME OF THE BEEN ABLE TO RETURN TO OUR PROSPERITY.
COMMUNITY
YEARS AND I HAVE FRUITS OF THAT
TE
"IT IS A TASK I HAVE ENJOYED, MR JACOBS SAID.
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