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WEDNESDAY, OCTOBER 5, 1977
SIR MURRAY POINTED OUT HOWEVER, THAT THE PROPOSED SCHEME DIFFERED FROM THE SORT OF SOCIAL INSURANCE SCHEME FOUND IN MANY COUNTRIES SINCE IT WOULD BE UP TO EMPLOYEES WHETHER THEY JOINED OR NOT. FURTHERMORE SUCH A SCHEME DID NOT EXIST IN A COMMUNITY WITH SUCH EXTENSIVE NON-CONTRIBUTORY SOCIAL SECURITY COVERAGE AS HONG KONG WOULD HAVE.
BUT
+THE DEMAND FOR IT IS THEREFORE DIFFICULT TO PREDICT. THE PROPOSAL IS BEING PUBLISHED IN A GREEN PAPER TO TEST PUBLIC OPINION, AND THE GOVERNMENT LOOKS FORWARD TO RECEIVING THE VIEWS OF THE PUBLIC AND OF TRADE UNIONS AND EMPLOYERS AND WILL BE VERY READY TO ENTER INTO DISCUSSION ON IT,+ SIR MURRAY SAID.
+IF, AS THE GOVERNMENT BELIEVES LIKELY, PUBLIC REACTION DOES INDICATE A REASONABLY WIDESPREAD DEMAND FOR A SCHEME OF THIS SORT, THE GOVERNMENT WILL PROCEED TO ESTABLISH AN ACTUARIAL BASIS AND WORK OUT THE DETAILS AS A BASIS FOR FURTHER DISCUSSION, HE ADDED.
+ IF THESE HURDLES ARE SUCCESSFULLY TAKEN THE LEGISLATION WILL NEED TO BE PREPARED, WHICH I SHOULD HOPE WOULD BE BEFORE THE END OF 1980,+
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