XN000022-1979-03-28 — Page 5

WEDNESDAY, MARCH 28, 1979

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HE CALLED FOR TIGHTER CONTROL AS WELL OVER THE LIQUIDITY OF BOTH DEPOSIT TAKING COMPANIES AND INSURANCE COMPANIES.

LAND HOLDINGS OF UTILITIES

FRANCHISED UTILITIES CAN SEPARATE THE IR SURPLUS LAND HOLDINGS TO THE PROF IT OF THE IR SHAREHOLDERS. MEANWHILE THEY CAN SUCCESSFULLY APPLY FOR INCREASED RATES ON GROUNDS OF OSTENSIBLY DROPPING PROFITS ON THE IR MONOPOLY OR FRANCHISE OPERATIONAL POSITION.

MR. BREMR IDGE SAID THIS POLICY IS WRONG AND SHOULD BE CHANGED, EVEN IF BY NOW MOST OF THE DAMAGE HAS BEEN DONE.

BUS SERVICES

HE SUGGESTED THAT WITH BUS SERVICES, BIGGER IS NOT BETTER, AND THAT IT IS TIME AT LEAST TO CONSIDER NEW FRANCHISES FOR NEW COMPANIES.

IN RIO DE JANEIRO, HE SAID, A CITY WITH EQUIVALENT TRAFFIC PROBLEMS, BUS COMPANIES COMPETE AGAINST EACH OTHER ON THE SAME ROUTES OFFERING DIFFERENT FARE STANDARDS WITH SEEMING EFFICIENCY.

CROSS HARBOUR CONNECTIONS

MR. BREMRIDGE THOUGHT THE NEED FOR ANOTHER, PROBABLY WESTERN, CROSS HARBOUR LINK WITH THE NECESSARY ROAD CONNECTIONS IS SELF-EVIDENT, TAKING INTO ACCOUNT THE INSUFFICIENCY OF THE EXISTING TUNNEL AT CERTAIN TIMES OF DAY.

HE SAID SOME PRIORITY FOR THIS IS INDICATED, AND NOTED THE TIME THE GOVERNMENT PROCESS TAKES A CROSS-HARBOUR TUNNEL WAS FIRST PROPOSED IN 1948.

MR. BREMRIDGE SAID ALL HIS PROPOSALS ARE NOT LIKELY TO COST MUCH EXCEPT THE ONE FOR ANOTHER CROSS-HARBOUR LINK, WHICH IN THE PRIVATE SECTOR WILL BE SELF-AMORTISING. INSTEAD THEY OFFER HIGH POTENTIAL RETURNS.

HE SAID HIS COMMENTS MAY SHOW ONLY HOW MUCH EASIER IT IS TO BE A CRITIC THAN TO BE CORRECT+ AND HE WREATHED HIS ROD OF CRITICISM WITH ROSES+ BY PAYING TRIBUTE TO SENIOR CIVIL SERVANTS, NOT LEAST THE FINANCIAL SECRETARY, WHO WORK LONGER HOURS FOR LESS REWARD THAN THEIR COUNTERPARTS IN THE PRIVATE SECTOR, FOR WHICH THEY REGULARLY GET CRITICISED, USUALLY WITHOUT BEING ABLE TO DEFEND THEMSELVES.