CENTRAL PROVIDENT FUND
3.
WEDNESDAY, FEBRUARY 3, 1993
LET ME RETURN BRIEFLY TO THE CONCEPT OF A CENTRAL PROVIDENT FUND, WHICH HAS BEEN DISCUSSED IN THIS COUNCIL ON A NUMBER OF OCCASIONS IN THE PAST. MEMBERS WILL BE AWARE THAT THE CENTRAL PROVIDENT FUND CONCEPT WAS NOT DISCUSSED BY THE WORKING GROUP ON RETIREMENT PROTECTION. INDEED, IT WAS NOT EVEN IN THE WORKING GROUP'S TERMS OF REFERENCE. THE REASONS FOR THIS EXCLUSION LIE MAINLY IN THE GOVERNMENT'S SERIOUS RESERVATIONS AROUT PUTTING A VERY LARGE AMOUNT OF FUNDS UNDER CENTRALISED CONTROL FOR INVESTMENT PURPOSES. WE CONTINUE
+
TO SEE SUBSTANTIAL DIFFICULTIES IN A CENTRAL PROVIDENT FUND BUT WE ARE PREPARED TO LOOK AGAIN AT THE ARGUMENTS.
CONCLUSION
IN CONCLUSION, I REALISE THAT MY RESIONSE TODAY IS AT BEST TENTATIVE, BUT I MAKE NO APOLOGY FOR THIS. TODAY'S DEBATE MARKS THE END OF ONE STAGE IN OUR CONSIDERATION OF A COMMUNITY-WIDE RETIREMENT PROTECTION SYSTEM AND THE BEGINNING OF THE NEXT. MUCH WORK REMAINS ΤΟ BE DONE ON A WHOLE RANGE OF IMPORTANT AND COMPLEX ISSUES. THEY REQUIRE DETAILED EXAMINATION AND ARE NOT FOR INSTANT REACTIONS OR HASTY DECISIONS. WE SHALL CONSIDER CAREFULLY ALL THE VIEWS WHICH HAVE BEEN EXPRESSED, BOTH WITHIN AND OUTSIDE THIS COUNCIL, AND ENDEAVOUR TO COME UP WITH THE RIGHT ANSWERS. IN THE MEANTIME, GIVEN THAT THE GOVERNMENT HAS YET TO COME TO ANY CONCLUSIONS, THE EX OFFICIO MEMBERS WILL ABSTAIN FROM VOTING ON THE MOTION AND THE AMENDMENTS TO IT.
THANK YOU, MR DEPUTY PRESIDENT.
SPEECH BY SECRETARY FOR EDUCATION AND MANPOWER, MR JOHN CHAN, AT MOTION DEBATE ON KINDERGARTEN EDUCATION IN LEGISLATIVE COUNCIL * * * * *
MR DEPUTY PRESIDENT,
THIS DEBATE UNDERLINES YET AGAIN THE IMMENSE IMPORTANCE WHICH HONOURABLE MEMBERS ATTACH ΤΟ EDUCATION AT ALL LEVELS. IT ALSO DEMONSTRATES VIVIDLY THAT, IN THIS VITAL AREA, THERE IS NO LIMIT TO THE COMMUNITY'S ASPIRATIONS FOR MORE AND BETTER ΤΟ BE DONE, AND
DO
ABSOLUTELY NO ROOM FOR COMPLACENCY ON THE PART OF THOSE TRYING TO IT. THE GOVERNMENT FULLY RECOGNISES THESE FACTS OF LIFE, I HOPE THAT, FOR THEIR PART, HONOURABLE MEMBERS AND THE COMMUNITY AT LARGE WILL ACCEPT THAT, WHILE WE SHOULD RIGHTLY STRIVE INCESSANTLY FOR MORE AND BETTER, OUR RESOURCES ARE NEVER AS UNLIMITED AS OUR ASPIRATIONS; THAT THERE OFTEN ARE DIFFERENT WAYS OF ACHIEVING OUR OBJECTIVES.
AND
POLICY BACKGROUND