2
THURSDAY, MARCH 21, 1991
F
HAS
IN RESPONSE TO COMMENTS ON INDIRECT TAX INCREASES, POINTED OUT THAT ONE OF HIS KEY STRATEGIC OBJECTIVES REDRESS THE BALANCE BETWEEN DIRECT AND INDIRECT TAXATION.
SIR PIERS BEEN TO
"INDIRECT TAXES HAVE THE VIRTUE OF BEING MORE STABLE; AND, MOST CASES THEY ALSO ALLOW CONSUMER CHOICE TO SOME EXTENT.
IN
"IT WOULD HAVE BEEN PERFECTLY SIMPLE TO PUT AN EXTRA PERCENTAGE HAVE ATTRACTED LESS POINT OR TWO ON DIRECT TAXATION, AND IT MIGHT
THIS CRITICISM. BUT I BELIEVE THAT IT WOULD HAVE BEEN THE WRONG MOVE
BUDGET DEBATE YEAR
AN ARGUMENT THAT I MAY WISH TO DEVELOP IN THE ITSELF!
HE HAS ON THE QUESTION OF INFLATION, SIR PIERS STRESSED THAT
MEASURES ARE BEING ATTACHED IMPORTANCE TO TACKLING INFLATION, AND TAKEN TO TACKLE IT.
"IN PARTICULAR WE ARE DOING IT BY GROWTH OF PUBLIC SECTOR SPENDING.
STRICTLY
CONTAINING THE
"IN THIS YEAR'S RESOURCE ALLOCATION EXERCISE, BELIEVE ME, THERE
THERE IS OVERALL,
LITTLE GROWTH. HAS BEEN
ON BLOOD
THE FLOOR.
SAVINGS. THE SIGNIFICANT HAVE HAD TO FIND DEPARTMENTS INDIVIDUAL
HE ADDED. RESULT WILL BE A LEANER AND MORE EFFICIENT PUBLIC SECTOR,
TO
SPEECH
KONG'S TOPIC OF HIS BACK
THE MAIN
AND
PIERS THROUGH THE 90'S INDUSTRY: MANUFACTURING
THE LONG-TERM HIGHLIGHTED THE ROLE OF TECHNOLOGY IN MAINTAINING
EVER- COMPETITIVENESS OF OUR MANUFACTURING INDUSTRIES IN THE FACE OF
AND THE LABOUR IN COMPETITION INCREASING
THE INTERNATIONAL LEVEL
SHORTAGE LOCALLY.
"HONG
BEYOND", SIR
SUPPORT, WITH OUR
"WHILE THE NEED FOR UPGRADING TECHNOLOGY HAS MY FULL ANY GOVERNMENT EFFORT IN THIS RESPECT SHOULD BE IN KEEPING INDUSTRIAL POLICY TO FACILITATE RATHER THAN TO DIRECT DEVELOPMENT," HE SAID.
"NEVERTHELESS, THERE IS A CLEAR ROLE FOR THE GOVERNMENT AND NEED TO DO MORE TO IDENTIFY AND PUBLICISE WHAT HAS BEEN HAPPENING.
WE
THE MANUFACTURING "TO ACHIEVE THE UPGRADING OF TECHNOLOGY IN SECTOR, THERE HAVE FOR SOME TIME BEEN ONGOING PROGRAMMES INITIATED THE GOVERNMENT AND ACADEMIC INSTITUTIONS. I BELEIVE THAT WHAT WE DOING REPRESENTS A GOOD INDICATION OF THE PREFERRED WAY FORWARD.
BY
ARE
"I
AND
AMONG THE MORE RECENT DEVELOPMENTS ARE TECHNOLOGY CENTRES
OF PROMOTING TECHNOLOGICAL SCIENCE PARKS
SERVE THE PURPOSE WHICH INNOVATIONS WHICH FACILITATE THE COMMERCIAL APPLICATION OF NEW IDEAS.
PROVIDING AN TECHNOLOGY CENTRES ARE PRIMARILY CONCERNED WITH ENVIRONMENT TO ENCOURAGE THE INITIAL PHASE OF THE SO-CALLED "PRE-NEW AND SCIENCE PARKS WILL ENCOURAGE THE PROCESS TECHNOLOGY-BASED FIRMS". BY PROVIDING THE FACILITIES TO ASSIST THE ESTABLISHMENT AND GROWTH OF THE SO-CALLED "NEW TECHNOLOGY-BASED FIRMS",
"THE EXECUTIVE COUNCIL HAS ALREADY ENDORSED THE PROPOSAL TO SET
SIR PIERS SAID. UP A TECHNOLOGY CENTRE IN YAU YAT TSUEN,
H
/"FOR THE