XN000022-1976-08-04 — Page 9

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WEDNESDAY, AUGUST 4, 1976

TO ALLOW PROPRIETORS TIME TO MAKE NECESSARY ADJUSTMENTS AND ALTERATIONS TO THEIR FACTORIES, THE REGULATIONS WILL BE BROUGHT INTO EFFECT ON JANUARY 1, 1977.

SPEAKING IN SUPPORT OF THIS MOTION, THE HON. JAMES WU SAID HE HAD CONSULTED THE INDUSTRY CONCERNED AND MET WITH ITS REPRESENTATIVES.

+I WAS ADVISED THAT THEIR FACTORIES HAD TO PROVIDE FOR REQUIREMENTS FOR OFFENSIVE TRADES ADMINISTERED BY THE URBAN COUNCIL, + HE SAID.

+THEY ALSO SAID THAT IN GENERAL THEIR PRESENT FACILITIES INCORPORATE PROVISIONS THAT ARE EQUAL OR BETTER THAN THOSE REQUIRED UNDER THE PROPOSED REGULATIONS.

+THEY SEE NO DIFFICULTY NOR HARDSHIPS INCURRED DUE TO THE IMPLEMENTATION, HE ADDED.

11 PER CENT INCREASE FOR PENSIONERS

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THE LEGISLATIVE COUNCIL HAS APPROVED AN 11 PER CENT INCREASE FOR ALL PENSIONS IN PAYMENT ON JULY 1, 1976 WITH EFFECT FROM OCTOBER 1.

THE COST OF THE INCREASES IS ESTIMATED AT $6 MILLION FOR THE REMAINDER OF THE CURRENT FINANCIAL YEAR AND $12 MILLION IN A FULL YEAR.

MOVING THE RESOLUTION IN COUNCIL TODAY, THE ACTING COLONIAL SECRETARY, THE HON. PHILIP HADDON-CAVE, SAID THIS WAS THE FIRST OCCASION THE NEW RULES ADOPTED BY THE GOVERNMENT IN DECEMBER 1975 FOR THE ASSESSMENT OF PENSION INCREASES WERE APPLIED.

THE PRESENT REVIEW COVERED THE PERIOD FROM APRIL 1, 1974 TO JUNE 30 THIS YEAR, HE ADDED.

AS THE CONSUMER PRICE INDEX (A) WAS NOT AVAILABLE FOR THE WHOLE OF THIS PERIOD IT WAS NECESSARY TO USE THE OLD MODIFIED CONSUMER PRICE INDEX.

+THERE WAS AN INCREASE OF 9.48 PER CENT IN THE MOVING ANNUAL AVERAGE OF THE MODIFIED CONSUMER PRICE INDEX DURING THE PERIOD FROM APRIL 1, 1974 TO JUNE 30, 1975, AND AN INCREASE OF 1.87 PER CENT IN THE MOVING ANNUAL AVERAGE OF CONSUMER PRICE INDEX (A) DURING THE PERIOD FROM JULY 1, 1975 TO JUNE 30, 1976, GIVING AN OVERALL INCREASE OF 11.35 PER CENT DURING THE REVIEW PERIOD, HE SAID.

+

HE ADDED, FOR THE RECORD, THAT THE AWARD OF ANY INCREASE IN PENSIONS WOULD ALWAYS BE SUBJECT TO THE PROVISION OF FUNDS IN THE NORMAL WAY, AND MUST HAVE REGARD TO THE PREVAILING FINANCIAL AND ECONOMIC SITUATION.

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