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WEDNESDAY, DECEMBER 13, 1989
MR TIEN ALSO NOTED THAT THERE WERE BROADER CONSIDERATIONS TO BE TAKEN INTO ACCOUNT REGARDING THIS BILL, NAMELY THE LABOUR SHORTAGE, BRAIN DRAIN AND POTENTIAL INVESTMENT IN INDUSTRY.
"GIVEN THE CURRENT LABOUR SHORTAGE. WE HAVE AN ECONOMIC SITUATION IN WHICH THE LAW MAY BE UNREASONABLY TILTED IN FAVOUR THE CARELESS EMPLOYEE.
OF
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"THE EFFECT OF THIS BILL WILL GIVE THE UPPER HAND ΤΟ EMPLOYEE, BUT THE ORDINARY EMPLOYER CANNOT DISMISS. NOR EVEN BE UNDULY HARSH WITH HIS EMPLOYEES. EVEN WHEN THEY FAIL то USE SAFETY EQUIPMENT PROPERLY.
"FURTHERMORE. THE CURRENT BRAIN DRAIN AND LABOUR SHORTAGE PROBLEM HAVE CAUSED MANY IMPORTANT SUPERVISORY POSTS WHICH REQUIRE QUALIFIED PERSONNEL то BE EITHER LEFT VACANT OR FILLED BY INEXPERIENCED PEOPLE," HE SAID.
THIS WOULD DISCOURAGE INVESTORS FROM INVESTING IN MORE SOPHISTICATED EQUIPMENT.
"ANOTHER CONSIDERATION 13 WHETHER POTENTIAL INVESTORS ARE PREPARED TO DEVOTE THEIR RESOURCES TO INDUSTRIES WHICH MAKE EXCESSIVE DEMANDS UPON SAFETY EQUIPMENT WHICH COULD BE BOTH EXTENSIVE AND EXPENSIVE." HE ADDED.
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SUMMARY OF CHANGES TO APPROVED ESTIMATES
A SUMMARY OF ALL CHANGES MADE TO THE APPROVED ESTIMATES OF EXPENDITURE FOR THE FIRST QUARTER OF THE FINANCIAL YEAR 1989-90 WAS TABLED BY THE FINANCIAL SECRETARY, THE HON SIR PIERS JACOBS, IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
SIR PIERS SAID SUPPLEMENTARY PROVISION OF $180.2 MILLION HAD BEEN APPROVED.
"IT WAS FULLY OFFSET EITHER BY SAVINGS UNDER THE SAME OR OTHER HEADS OF EXPENDITURE OR BY THE DELETION OF FUNDS UNDER THE ADDITIONAL COMMITMENTS SUBHEADS.
"THIS INCLUDED $79.7 MILLION COMPRISING A START-UP GRANT OF $38.5 MILLION AND A RECURRENT GRANT OF $41.2 MILLION FOR THE GOVERNMENT'S CONTRIBUTION TOWARDS THE COST OF THE SECURITIES AND FUTURES COMMISSION, HE SAID.
NEW
SIR PIERS ALSO SAID THAT APPROVED NON-RECURRENT COMMITMENTS HAD BEEN INCREASED BY $515.9 MILLION DURING THE PERIOD, AND NON-RECURRENT COMMITEMENTS OF $74.5 MILLION HAD ALSO BEEN APPROVED.
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