XN000022-1977-04-20 — Page 7

6

WEDNESDAY, APRIL 20, 1977

REPLYING TO THE QUESTION OF MANPOWER PLANNING RAISED BY THE UNOFFICIALS, THE FINANCIAL SECRETARY SAID THAT WHILE HE AGREED IN SPIRIT ABOUT THE IMPORTANCE OF HAVING AN ACCURATE ASSESSMENT OF THE DEMAND FOR TRAINED MANPOWER AND THE NEED FOR A REALISTIC PLAN FOR DEVELOPING THE SUPPLY, THE TASK LAY WITH THE INDUSTRY.

HE DREW THE ATTENTION OF THE UNOFFICIALS THAT A WORKING PARTNERSHIP BETWEEN THE GOVERNMENT AND INDUSTRY ALREADY EXISTS WHEREBY THE GOVERNMENT PROVIDED SUITABLE EDUCATIONAL INSTITUTIONS AND THE COURSES WHILE THE EMPLOYERS RELEASE STAFF FOR FULL-TIME OR PART-TIME TRAINING.

THIS PARTNERSHIP SHOULD ENSURE THAT EXPENDITURE ON TECHNICAL EDUCATION AND INDUSTRIAL TRAINING ARE KEPT IN BALANCE.

THE SUCCESS OF OUR EXPORT ORIENTED ECONOMY HAS BEEN, AND WILL CONTINUE TO BE, DEPENDENT ON OUR ABILITY TO EXPLOIT QUICKLY AND EFFECTIVELY THE OPPORTUNITIES FOR PROFITABLE GROWTH. SO WE MUST A IM FOR FLEXIBILITY BY STRIKING A BALANCE BETWEEN HIGHLY SPECIALISED TRAINING AND MORE GENERAL TRAINING SO AS TO SECURE THE MOBILITY OF OUR LABOUR FORCE, THE FINANCIAL SECRETARY STRESSED.

COMMENTING ON THE ECONOMIC OUTLOOK FOR THE CURRENT FISCAL YEAR, MR. HADDON-CAVE SAID THE TRADE STATISTICS FOR JANUARY AND FEBRUARY DO SUGGEST A VERY SLIGHTLY LOWER GROWTH RATE FOR EXPORTS IN 1977, BUT THIS IS PROBABLY ONLY A REFLECTION OF THE TIMING OF SHIPMENTS AT THIS PARTICULAR TIME OF THE YEAR.

UNUSUALLY HIGH VOLUME OF EXPORTS RECORDED IN DECEMBER REFLECTED TO SOME EXTENT A DESIRE BY EXPORTERS TO UTILISE THEIR TEXTILE QUOTAS BEFORE THE END OF THE YEAR AND IT WOULD NOT BE SURPRISING IF THE PROVISIONAL ESTIMATE FOR THE G.D.P. IN REAL TERMS IN 1976 SHOWS A SOMEWHAT HIGHER GROWTH RATE THAN THE PRELIMINARY ESTIMATE OF 16 PER CENT, HE SAID.

+HOWEVER, BECAUSE THE TIMING OF SHIPMENT WAS BROUGHT FORWARD, THE GROWTH OF EXPORTS IN THE EARLY MONTHS OF 1977 WILL BE LOWER THAN EXPECTED WITH THE POSSIBILITY OF A SLIGHTLY LOWER GROWTH RATE FOR THE G.D.P. IN 1977 THAN THE FORECAST IN THE BUDGET. +

BUT. THE FINANCIAL SECRETARY ASSURED THAT THE ACTUAL LEVEL OF THE G.D.P. IN 1977 WAS UNLIKELY TO BE VERY DIFFERENT.