WEDNESDAY, APRIL 28, 1976
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MORE INDUSTRIAL LAND FOR PUBLIC AUCTION
******
THE HON. JAMES WU TODAY CALLED FOR AN ASSURANCE FROM THE FINANCIAL SECRETARY THAT NO EFFORT WOULD BE SPARED TO MAKE AVAILABLE FOR PUBLIC AUCTION AS MUCH INDUSTRIAL LAND AS POSSIBLE TO MEET THE URGENT NEED.
HE WAS SPEAKING AT THE RESUMED DEBATE IN LEGISLATIVE COUNCIL ON THE HONG KONG INDUSTRIAL ESTATES PROVISIONAL AUTHORITY BILL 1976 WHICH SEEKS TO SET UP THE AUTHORITY THAT WILL BE EMPOWERED TO ACQUIRE LAND TO DEVELOP IT FOR LETTING FOR USE BY INDUSTRIAL UNDERTAKINGS.
MR. WU DESCRIBED THE INTRODUCTION OF THE LEGISLATION AS +COMING ABOUT AT A VERY OPPORTUNE TIME, AND HE PRESSED FOR EARLY IMPLEMENTATION OF THE WORK WHICH WOULD FLOW FROM THE PROVISIONAL AUTHORITY.
HE SAID HE ALWAYS BELIEVED THAT RAPID ECONOMIC SUCCESS HAD BEEN MADE POSSIBLE ONLY BY STRONG GOVERNMENT ENCOURAGEMENT OF DEVELOPMENT WITHIN AN ESSENTIALLY PRIVATE ENTERPRISE ECONOMY.
+SINCE THE BASIC ESSENTIALS OF PRODUCTION ARE MAN-POWER CAPITAL AND LAND, AND AS THE GOVERNMENT HOLDS MOST OF THE LAND AND CAN MANIPULATE THE CAPITAL SUPPLY, IT IS CLEAR THAT THE GOVERNMENT MUST ASSUME AN IMPORTANT ROLE IN ECONOMIC DEVELOPMENT.+
MR. WU WENT ON TO SAY THAT THERE WERE MANY WORTHWHILE INDUSTRIES THAT WERE LAND INTENSIVE AND COULD NOT BE TOLERABLY ESTABLISHED IN HIGH-RISE FACTORIES AND THESE INDEED WERE THE ONES THAT SHOULD BE GIVEN DUE CONSIDERATION +SO LONG AS THEY ARE VIABLE, WILL UP-GRADE OUR TECHNOLOGY, PROVIDE SUPPORT FOR OUR EXISTING AND NEW INDUSTRIES AND IN GENERAL HELP TO BROADEN OUR INDUSTRIAL BASE TO PROVIDE EMPLOYMENT FOR OUR GROWING MALE POPULATION WITH HIGH EDUCATION AND ASPIRATION.
+IT IS ALSO IMPORTANT HOWEVER THAT RULES AND PROCEDURES BE ESTABLISHED BY THE AUTHORITY. TO SAFEGUARD AND ENSURE THAT ALL LAND PROVIDED WILL BE FULLY UTILISED IN ACCORDANCE WITH THE INTENTS AND PURPOSES PROPOSED, AND TO PREVENT ABUSE AND SPECULATION, HE ADDED.
IN REPLY THE FINANCIAL SECRETARY THE HON. PHILIP HADDON-CAVE, ASSURED MR. WU THAT AS MUCH GENERAL INDUSTRIAL LAND AS POSSIBLE WOULD BE MADE AVAILABLE BY PUBLIC AUCTION.
HE RECALLED THAT IN HIS BUDGET SPEECH HE SAID 28 ACRES OF LAND WOULD BE PUT ON THE MARKET BY THE DIRECTOR OF PUBLIC WORKS AND THE SECRETARY FOR THE NEW TERRITORIES DURING THE PRESENT FISCAL YEAR.
AS REGARDS LAND MADE AVAILABLE WITH RESTRICTED USE OR CONDITIONS ATTACHED, MR. HADDON-CAVE SAID HE WAS GLAD MR. WU ACCEPTED THAT IT MUST BE PUT TO REALLY PRODUCTIVE USE TO THE BENEFIT OF THE ECONOMY AS A WHOLE. +THIS MEANS,
+THIS MEANS. AMONG OTHER THINGS, PLACING AT LEAST SOME RELIANCE ON THE DISCIPLINE OF THE MARKET MECHANISM,+ HE SAID.
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