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WEDNESDAY, APRIL 20, 1988
"WE CANNOT AFFORD TO MAKE MISTAKES AND ESPECIALLY MISTAKES THAT COULD UPSET AND WORRY LOCAL PEOPLE AS WELL, AS INTERNATIONAL INVESTORS AND BUSINESSMEN, HE SAID.
FI
"THE LOSS OF MANY TRAINED EXECUTIVES AND THEIR FAMILIES IS WORRYING ENOUGH AND COULD BE TAKEN AS A KIND OF BAROMETER OF LOCAL CONFIDENCE.
"THE LOSS OF INVESTORS WOULD BE VERY MUCH WORSE BECAUSE THAT WOULD SIGNAL A CORPORATE RATHER THAN A PERSONAL VIEW."
FORTUNATELY, HE SAID, AS THE BUDGET DEMONSTRATED, HONG KONG APPEARED TO RE DOING THE THINGS WHICH CONTINUED то APPEAL TO CORPORATE INVESTORS, AT LEAST AS FAR AS COULD BE JUDGED BY ECONOMIC, TRADE AND INDUSTRIAL STATISTICS, AND ALSO BY THE PRICES ACHIEVED AT AUCTION FOR RECENT LAND SALES AND THE MANY MAJOR NEW LONG TERM PROJECTS STARTED OR ABOUT TO START IN THE PRIVATE SECTOR.
BOTH
"THERE SEEMS NO DOUBT THEREFORE THAT CORPORATE HONG KONG, LOCAL AND FOREIGN, HAS ACCEPTED THAT THERE IS EVERY CHANCE OF CONTINUED ECONOMIC SUCCESS, HE SAID.
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"I BELIEVE THAT THIS IS A TRUE PICTURE AND THAT PART OF THE CONFIDENCE DISPLAYED BY INVESTORS IS PREDICATED ON THE BELIEF THAT HONG KONG WILL CONTINUE TO HAVE AN EXECUTIVE-LED ADMINISTRATION WITH
A RESPONSIVE AND RESPONSIBLE LEGISLATURE AND WITH AN ABSENCE OF DISRUPTIVE AND CONFRONTATIONAL PARTY POLITICS."
MR CLYDESDALE REITERATED THAT BUSINESS PREFERRED TO WORK IN AN ENVIRONMENT WILICH WAS FAMILIAR AND STABLE AS BUSINESS PLANNING RELIED ON CONTINUITY OF SUCCESSFUL POLICIES AND PROCEDURES.
"THE WHITE PAPER SEEMED
TO MR ΤΟ RECOGNISE THIS ESSENTIAL INGREDIENT FOR OUR FUTURE AS DID THIS BUDGET PRESENTED BY THE FINANCIAL SECRETARY HE ADDED.
t
HE SAID
יך [
|
WAS DIFFICULT
AND, INDEED, IT WOULD BE MOST VIEW TOWARDS THE FINANCIAL
UNCHARITABLE NOT TO TAKE A BULLISI SECRETARY'S PACKAGE OF TAX PROPOSALS,
"ANY FINANCIAL SECRETARY WHO REDUCES THE LEVEL OF DIRECT TAXATION, WHATEVER ELSE HE DOES, IS ROUND TO BE LOOKED UPON WITH FAVOUR,
THE COMMENTED.
A FINANCIAL SECRETARY WHO DID SO IN TWO CONSECUTIVE YEARS TOOK ON THE MANTLE OF A FINANCIAL GURU.
THRONG OP BUDGET SOME OBSERVATIONS ΤΟ
MR CLYDESDALE SAID WHILE JOINING THE HAPPY ADMIRERS AND SUPPORTERS HE DID, HOWEVER. HAVE MAKE.
/"FIRSTLY, AND
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