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WEDNESDAY, JULY 25, 1990
THE RETAIL SECTOR REMAINED SOFT IN THE FIRST HALF OF 1990 PARTLY DUE TO AN INCREASED SUPPLY AND PARTLY BECAUSE OF THE SLOWDOWN
IN EXPENDITURE OF TOURISTS AND LOCALS ALIKE. THE SECTOR ENJOYED A 10 PER CENT RISE IN OCCUPANCY RATES WHICH WAS INCREASED ΤΟ 81 PER CENT IN JUNE 1990.
HOWEVER, UPON COMPLETION OF A NUMBER OF NEW HOTEL PROJECTS IN CENTRAL, THE INCREASE IN OCCUPANCY RATES WOULD BE DAMPENED.
THE MARKET FOR INDUSTRIAL FLOOR SPACE REMAINED QUIET WITH
AN AVERAGE FIVE PER CENT DECREASE IN SELLING PRICES.
IT WAS CONSIDERED THAT THE MARKET WOULD REMAIN WEAK FOR THE TIME BEING IN VIEW OF THE FACT THAT DURING THE FIRST HALF OF THIS YEAR, CONSENT TO COMMENCE WORK IN NEW INDUSTRIAL BUILDINGS
WAS GIVEN FOR 473,000 SQUARE METRES OF FLOOR SPACE, REPRESENTING AN INCREASE OF 32 PER CENT OVER THE SAME PERIOD IN 1989.
REGARDING LAND SALES, SOME 6.6 HECTARES WERE SOLD BY AUCTION OR TENDER AT GENERALLY SATISFACTORY PRICES. SOMB LOW DENSITY RESIDENTIAL SITES ACHIEVED ENCOURAGING RESULTS BUT INDUSTRIAL SALES ATTRACTED A RELATIVELY WEAK RESPONSE.
WELFARE SERVICES MAINLY FOR NERDY PEOPLE
WELFARE SERVICES ARE TARGETTED MAINLY AT THOSE WHO NEED THEM AND THE GOVERNMENT TRIES NOT TO PURSUE SOCIAL POLICIES THAT WOULD UNDERMINE THE COMPETITIVE AND PRODUCTIVE ENGINE OF THE ECONOMY, THE DIRECTOR OF SOCIAL WELFARE, MR M.D. CARTLAND, SAID TODAY (WEDNESDAY).
HE WAS SPEAKING AT THE SHUN TAK FRATERNAL ASSOCIATION'S 12TH PARTY FOR ABOUT 1,000 ELDERLY PEOPLE AT THE CITY HALL CONCERT HALL.
MR CARTLAND NOTED THAT THE LOCAL WELFARE SERVICES PACKAGE WAS NOT DESIGNED ΤΟ PROVIDE THE TYPE OF FAR-REACHING COMPREHENSIVE SUPPORT, WHICH WAS A FEATURE OF WESTERN STYLE WELFARE STATES.
HE POINTED OUT THAT SUCH SYSTEMS RESULTED IN CRIPPLING TAX BURDENS AND AT THE SAME TIME LOWERED THE ABILITY OF THE POPULACE.
"IN THE LONG RUN THE RESULTS ARE DECLINING NATIONAL INCOME AND DETERIORATING LIVING STANDARDS," HE OBSERVED.
MR CARTLAND STRESSED THAT "THOSE WHO ARE ENCOURAGED TO REMAIN SO".
"HOWEVER, THE ELDERLY IS CLEARLY ONE PARTICULAR ATTENTION, HE SAID.
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SELF-SUFFICIENT ARE
GROUP THAT MBRITS
/HE NOTED