XN000022-1982-02-24 — Page 25

WEDNESDAY, FEBRUARY 24, 1982

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SIR MURRAY'S MONUMENT: A DECADE OF PROGRESS

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THE FINANCIAL SECRETARY, THE HON JOHN BREMRIDGE TODAY PAID TRIBUTE TO SIR MURRAY MACLEHOSE IN HIS BUDGET SPEECH, WHICH IS THE 11TH SIR MURRAY HAS LISTENED TO IN HONG KONG.

MR BREMRIDGE SAID IN THESE YEARS OF SIR MURRAY'S GOVERNORSHIP HONG KONG HAS EXPERIENCED REMARKABLE GROWTH OFTEN IN THE FACE OF GENERAL ADVERSITY AND THE OUTSTANDING ACHIEVEMENTS OVER THE PAST DECADE WAS A MONUMENT TO HIM.

IN REAL TERMS, HE NOTED, HONG KONG'S TOTAL EXPORTS HAVE INCREASED BY 182 PER CENT, GDP BY 162 PER CENT, AND PER CAPITA GDP BY 106 PER CENT DESPITE A POPULATION INCREASE OF 1.1 MILLION AND WE STILL HAVE NO SERIOUS UNEMPLOYMENT PROBLEM.

+THESE FIGURES ARE SIGNIFICANT, BUT THEY ONLY HERALD THE GENERAL IMPROVEMENTS IN HONG KONG THAT YOUR GOVERNMENT HAS BEEN ABLE TO INTRODUCE AS A RESULT OF GROWING PROSPERITY.

+THERE HAVE BEEN TWO OVER-RIDING FACTORS - YOUR OWN DETERMINATION TO IMPROVE THE LOT OF THE AVERAGE MAN AND WOMAN, AND YOUR ADOPTION OF POLICIES LEADING TO THE CREATION OF THE WEALTH ON WHICH SOCIAL PROGRESS DEPENDS.

+IN HOUSING, HEALTH, EDUCATION, SOCIAL WELFARE, RECREATION, LAW AND ORDER, TRANSPORT AND MANY OTHER FIELDS THESE PAST 10 YEARS HAVE SEEN OUTSTANDING IMPROVEMENT IN THE LIVING STANDARDS OF OUR PEOPLE.

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+WHAT HAS BEEN DONE - WHICH ALL CAN SEE STANDS AS YOUR MONUMENT, THE FINANCIAL SECRETARY SAID.

HONG KONG IS DOING WELL, SAYS FS

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HONG KONG'S ECONOMY DID AS WELL IN 1981 AS COULD REASONABLY BE EXPECTED, AND THERE WAS ALSO A MARKED TREND TOWARDS ECONOMIC STABILITY THROUGHOUT THE YEAR, THE FINANCIAL SECRETARY, THE HON JOHN BREMRIDGE SAID.

HOWEVER, HE FULLY REALISED THAT 1981 MEANT FOR SOME INDUSTRIALISTS AND MERCHANTS RISING PRICES, FLUCTUATING EXCHANGE RATES, CONTINUING INFLATION, DIFFICULT MARKETS, GROWING PROTECTIONISM, THIN PROFIT MARGINS, AND ALL THE PROBLEMS OF ADJUSTMENT THAT NEW TECHNOLOGIES BRING.

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*THEY TRULY HAVE MY SYMPHATHY.

I ACCEPT THAT SOME HAVE HAD AND WILL CONTINUE TO HAVE PROBLEMS THIS SITUATION IS NOT UNIQUE TO HONG KONG. BUT I AM SURE THAT THE FITTEST WILL SURVIVE,+ HE SAID.

/MR BREMRIDGE