XN000022-1978-03-29 — Page 22

21

-

WEDNESDAY, MARCH 29, 1978

MR. LI SAID HE WAS NOT SUGGESTING ANOTHER MCKINSEY STUDY, BUT FELT STRONGLY THAT WE SHOULD SATISFY OURSELVES WHETHER THE PRESENT SYSTEM IS WORKING EFFECTIVELY AND WHETHER THE LEVEL OF PRODUCTIVITY IS SUFFICIENTLY HIGH.

FINALLY, MR. LI SUGGESTED THAT THE GOVERNMENT RE-EXAMINE THE PROCEDURE AND CRITERIA GOVERNING APPLICATIONS FOR ASSISTANCE FROM THE LOTTERIES FUND, WHICH WILL HAVE AN ESTIMATED SURPLUS OF $30 MILLION NEXT YEAR.

HE SAID THERE ARE REGULAR INDICATIONS FROM SOCIAL WELFARE AGENCIES THAT INADEQUATE FUNDS HAVE BEEN ALLOCATED TO THEM FOR THEIR EXPANSION PROGRAMME. ON THE OTHER HAND, THE FUND ESPECIALLY ESTABLISHED FOR THE PURPOSE OF MEETING SUCH NEEDS, SHOWS A HEALTHY SURPLUS AT THE END OF EACH FINANCIAL YEAR.

+ IT HAS BEEN SOME 13 YEARS SINCE THIS FUND WAS CREATED BY RESOLUTION OF THIS COUNCIL AND MANY CHANGES HAVE EVOLVED DURING THIS PERIOD WHICH MAY WARRANT SOME MODIFICATIONS TO ALLOW - ITS ASSETS TO BE EMPLOYED MORE EFFECTIVELY, HE SAID.

/ 22.