SATURDAY, JUNE 17, 1989
DECISIONS ON PROJECTS WITHIN TIMESCALE
FS
THE FINANCIAL SECRETARY, SIR PIERS JACOBS, (SATURDAY) THAT THE GOVERNMENT WAS GOING AHEAD WITH ALL OF INFRASTRUCTURAL DEVELOPMENT AND WOULD ADHERE TO ITS MAKING DECISIONS.
SAID TODAY ITS PLANNING TIMETABLE FOR
SPEAKING TO MEMBERS OF THE MEDIA AFTER ATTENDING THE QUEEN'S BIRTHDAY CELEBRATIONS AT THE FANLING RECREATION GROUND. SIR PIERS REITERATED THAT THE GOVERNMENT INTENDED TO MAKE DECISIONS ON PROJECTS SUCH AS THE AIRPORT WITHIN THE TIMESCALE WHICH IT SET ITSELF.
AT THE
"THERE IS A LOT THAT IS GOING ON IN THE ADMINISTRATION MOMENT. HE SAID, CITING AS EXAMPLES THE PORT AND AIRPORT DEVELOPMENT STRATEGY STUDY (PADS) AND THE AIRPORT IN PARTICULAR.
ASKED WHETHER RECENT EVENTS IN CHINA WOULD HAVE ANY OVERSEAS INVESTMENT IN HONG KONG, HE SAID IT OBVIOUSLY SOME EFFECT BUT OVER THE MEDIUM TO LONGER TERM, HE WOULD THINGS IN HONG KONG WOULD PICK UP AGAIN.
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EFFECT ON WOULD HAVE
EXPECT THAT
*EVERYONE IS BEING EXTREMELY SHOCKED BY THESE GHASTLY EVENTS THAT HAVE TAKEN PLACE. I THINK IT IS TOO EARLY ΤΟ PREDICT EXACTLY WHAT EFFECT IT IS LIKELY TO HAVE ON INVESTMENT, HE SAID.
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IN RESPONSE TO A QUESTION ON WHETHER THE DECREASE IN THE PRIME RATE WOULD HELP STIMULATE THE MARKET, THE FINANCIAL SECRETARY SAID IT WOULD BE BENEFICIAL AS FAR AS BUSINESS WAS CONCERNED.
"I HAD TAKEN THE VIEW AT THE TIME OF INTEREST RATES WILL BE HELPFUL ΤΟ US IN INFLATION,
MY BUDGET THAT HIGHER TENDING TO COOL DOWN
'BUT INFLATION ISN'T OUR NO. 1 PROBLEM AT THE MOMENT. IT'S STILL THERE, BUT I WILL EXPECT IT TO COOL DOWN A BIT.
"SO WHAT WE REALLY NEED TO DO IS ΤΟ SEE MORE HONG KONG." HE NOTED.
BUSINESS IN
ASKED ABOUT THE RECENT ANNOUNCEMENT BY THE STOCK EXCHANGE AND THE SECURITIES AND FUTURES COMMISSION OF A NEW RULE то PROHIBIT LOCALLY LISTED OVERSEAS COMPANIES FROM BUYING ITS SHARES PRIOR APROVAL, SIR PIERS SAID THE MATTER WAS BEING LOOKED AT STANDING COMMITTEE ON COMPANY LAW REFORM.
WITHOUT BY THE
"BUT AT THE MOMENT OUR MAIN CONCERN IS ΤΟ SEE INVESTORS ADEQUATELY PROTECTED, HE POINTED OUT.
ASKED HOW HE FELT ABOUT HIS AWARD OF THE KBE, SIR PIERS SAID IT WAS A GREAT HONOUR AND HE WAS VERY DELIGHTED.
HE ALSO THANKED HIS COLLEAGUES WHO HAVE GIVEN HIM SO MUCH SUPPORT SINCE HE TOOK OFFICE.
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