WEDNESDAY, NOVEMBER 8, 1989
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SIR DAVID SAID THE GOVERNMENT SUGGESTED THAT THE MAJORITY OF THOSE WHO BENEFITTED FROM THE UK CITIZENSHIP SCHEME SHOULD BE
THE PRIVATE SECTOR RATHER THAN IN THE CIVIL SERVICE.
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"USING THESE CRITERIA AND A REASONABLY GENEROUS OVERALL FIGURE. SUCH A SCHEME SHOULD BE ABLE TO RETAIN IN HONG KONG ACTIVE MEMBERS OF A BROAD SPECTRUM OF OCCUPATIONS IN SUFFICIENT NUMBERS TO SUSTAIN VIBRANT ECONOMY AND AN EFFECTIVE ADMINISTRATION UP TO AND BEYOND 1997.
A
"WHILE ANY LIMITED SCHEME IS BOUND TO BE DIVISIVE TO SOME EXTENT WE BELIEVE THAT THE USE OF SUCH CRITERIA WOULD BE MORE READILY UNDERSTOOD AND ACCEPTABLE BY HONG KONG PEOPLE AND THAT THE SCHEME WOULD BE GENERALLY WELCOMED." THE CHIEF SECRETARY SAID.
PERIOD OF ECONOMIC CONSOLIDATION INEVITABLE
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THERE IS A POSITIVE SIDE TO THE CONTINUED SLOWING DOWN OF THE GROWTH RATE OF THE ECONOMY IN THAT THE REDUCTION OF PRESSURE ON CAPACITY SHOULD HELP TO REDUCE INFLATION, THE FINANCIAL SECRETARY. THE HON SIR PIERS JACOBS, TOLD THE LEGISLATIVE COUNCIL TODAY
WEDNESDAY}.
LEADING OFF REPLIES BY
OFFICIALS IN THE RESUMED DEBATE ON THE GOVERNOR'S POLICY ADDRESS, SIR PIERS SAID CURRENTLY HONG KONG WAS EXPERIENCING MORE MODERATE GROWTH FOR BOTH THE EXTERNAL AND THE DOMESTIC SECTORS.
WE MUST REMEMBER THAT WE HAVE ENJOYED THREE SUCCESSIVE YEARS OF REMARKABLE GROWTH, AND IN THESE CIRCUMSTANCES A PERIOD OF CONSOLIDATION IS INEVITABLE, HE SAID.
THE FINANCIAL SECRETARY SAID THAT ON TOP OF THIS PREDICTABLE ECONOMIC ADJUSTMENT, THE EVENTS IN CHINA IN JUNE HAD ADVERSELY AFFECTED A NUMBER OF SECTORS.
"SOME HAVE SUFFERED MORE THAN OTHERS, BUT, NEVERTHELESS, I AM HAPPY TO SAY THAT THERE HAS AGAIN BEEN A STEADY INCREASE IN ECONOMIC ACTIVITY OVER THE LAST FEW MONTHS. A CLEAR INDICATION OF OUR VITALITY AND RESILIENCE, HE SAID.
H
ECONOMIC
NOTING THAT IN THE SHORT TERM INFLATION WAS THE MAJOR CONCERN, SIR PIERS SAID ALTHOUGH THE LABOUR MARKET WAS STILL GENERALLY TIGHT, THERE WAS SOME EVIDENCE THAT THE WORKFORCE WAS NOW MORE STABLE WITH LESS JOB-HOPPING THAN BEFORE WHICH SHOULD HELP REDUCE THE PRESSURE ON WAGES.
THE CURRENT RATE OF INFLATION AT AROUND 10 PER CENT. AS MEASURED BY THE CONSUMER PRICE INDEX (A), IS SOMEWHAT TOO HIGH FOR COMFORT, BUT то THE EXTENT THAT MOST OF THE CURRENT INFLATIONARY PRESSURES ARE GENERATED DOMESTICALLY. THE RATE OF INFLATION CAN BE EXPECTED TO EASE AS THE ECONOMY SLOWS DOWN FURTHER. HE SAID.
"THE PERFORMANCE