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FRIDAY, OCTOBER 9, 1992

SECONDLY, I SIMPLY DON'T BELIEVE THAT IT WOULD HELP TO CREATE POLITICAL STABILITY FOR ME TO SAY, "WELL OF COURSE I'VE GOT SOME THOUGHTS ABOUT OUR POLITICAL INSTITUTIONS BUT I'M NOT GOING TO TELL YOU WHAT THEY ARE UNTIL WE'VE ACTUALLY COME TO SOME DECISIONS." WE'VE SEEN WHAT HAPPENS AS A RESULT OF THAT, IN THE PAST. MOUNTAINS OF SPECULATION, HUGE QUANTITIES OF EXEGESIS OF EVERY COMMA, OF EVERY PUNCTUATION MARK, IN EVERY COMMUNIQUE. I RAVEN'T NOTICED THAT THAT POLITICS BY OBFUSCATION AT AIRPORT PRESS CONFERENCES HAS BEEN EXACTLY CONDUCIVE TO POLITICAL STABILITY WHEN WE'VE BEEN SUBJECTED TO IT.

AND THIRDLY, I DON'T BELIEVE THAT IT WOULD HELP ΤΟ PROMOTE POLITICAL STABILITY, TO SAY TO THE PEOPLE OF HONG KONG, "WE'RE GOING TO STAND FOUR-SQUARE AGAINST ANY AMBITIONS, ANY ASPIRATIONS, YOU MAY HAVE FOR A MODEST INCREASE IN YOUR CONTROL OVER YOUR OWN AFFAIRS. I THINK TO BLOCK OFF ANY FURTHER PROGRESS IN THAT WAY, WOULD BE FAR MORE LIKELY TO INCREASE INSTABILITY THAN TO PROMOTE STABILITY.

I VERY MUCH HOPE THAT IN THE NEXT FEW MONTHS Ι CAN CONVINCE THOSE WHO MAY NEED TO BE CONVINCED, THAT THE PEOPLE OF HONG KONG ARE SOPHISTICATED, MATURE, RESPONSIBLE, RESTRAINED, SENSIBLE ENOUGH, TO LOOK AFTER A RATHER GREATER SHARE OF THEIR OWN DESTINY IN A WAY WHICH THREATENS NO ONE BUT DOES ENSURE THAT THIS COMMUNITY BECOMES MORE PROSPEROUS, MORE STABLE AND MORE CAPABLE, OF MAKING A SPECTACULAR CONTRIBUTION TO DEVELOPMENTS IN CHINA AND DEVELOPMENTS IN THE REGION. I THINK IT

WOULD BE SURPRISING IF A COMMUNITY WHICH HAD BEEN SO CONFIDENT AND SUCCESSFUL IN EVERY MARKET IN THE WORLD, WASN'T ALSO IN A MODEST, RESTRAINED WAY, ABLE TO TAKE A SLIGHTLY LARGER PART IN SHAPING ITS OWN FUTURE.

BU'T ARE

I SAID I'D BE REASONABLY RESTRAINED, AND NOW I'D LIKE TO ASK YOU, OR INVITE YOU TO ASK QUESTIONS IT'S NOT OBLIGATORY. IF THERE ARE ANY OF YOU WHO WOULD LIKE TO ASK QUESTIONS THERE FOUR MICROPHONES, HELPFULLY NUMBERED, "1", "2", "3" AND "19", AND IF YOU COME FORWARD TO A MICROPHONE, I'LL TAKE YOU IN ORDER.

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QUESTION:

SIR, YOU HAVE MENTIONED TWO PRINCIPLES, ONE IS DEFEAT INFLATION, IF YOU CAN, AND THE SECOND IS TO LIMIT EXPENDITURE.

GOVERNMENT GOVERNMENT HAS BEEN CRITICISED IN THE PAST FOR LEADING THE SALARIES RACE AND THEREFORE CONTRIBUTING TO INFLATION. I'D LIKE TO HEAR, ON BEHALF OF THE BUSINESS COMMUNITY, YOUR VIEWS ON HOW THAT CAN BE ARRESTED?

SECONDLY, YOUR PARTY IN THE UNITED KINGDOM HAS REDUCED GOVERNMENT EXPENDITURE BY PRIVATISATION. COULD WE HEAR YOUR VIEWS ON PRIVATISATION, PLEASE?

/GOVERNOR: YES

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