XN000022-1983-03-23 — Page 12

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+NOT A WORD ABOUT BELT TIGHTENING IN THE BOARD ROOM.

+LET ME MAKE UP FOR THEIR SILENCE THIS YEAR, AND THE IR

·TICIPATED SILENCE NEXT YEAR, IF ADDITIONAL REVENUE IS STILL NDED THEN.

+PERHAPS WE COULD ALL HOPE TO ANTICIPATE THAT BY THEN THERE WOULD BE AN UPTURN IN THE ECONOMY, A HOPE THAT MIGHT MAKE SUCH A TAX MORE PALATABLE TO THE TAX PAYER, AND MORE PROFITABLE TO REVENUE, HE SAID.

FR MCGOVERN ALSO OFFERED ANOTHER SUGGESTION AS TO A POSSIBLE SAVING OF WASTE.

HE NOTED THAT MANY OF THE VIETNAMESE REFUGEES IN THE CLOSED CAMPS WERE FROM FARMING DISTRICTS OF THEIR COUNTRY.

ON THE OTHER HAND, HONG KONG HAS HECTARES OF FALLOW LAND LYING IS MANY ALMOST DESERTED PARTS OF THE NEW TERRITORIES.

+ IT SHOULD NOT BE BEYOND THE INGENUITY OF HONG KONG'S FERTILE BRAINS TO PUT THE TWO FACTS TOGETHER AND DEVISE A METHOD BY WHICH THE LAND OWNERS COULD BE OFFERED A VERY MODEST RENT, HE SAID.

+AND VOLUNTEER REFUGEES COULD GET A MODEST PROPORTION OF WHAT THEY COULD EARN BY PRODUCTIVE WORK, WORK WHICH WOULD ALSO SAVE SOME OF THEIR DIGNITY.

+WE WOULD ALL BENEFIT FROM AN INCREASE IN, FOR EXAMPLE, THE 40 OR SO PERCENTAGE OF HOME GROWN VEGETABLES, WITH THE CONSÉQUENT SIDE EFFECT OF HELPING OUR BALANCE OF PAYMENTS.+

FR MCGOVERN SAID HE BELIEVED THAT IT WOULD TAKE QUITE A LONG TIME TO DEVISE AND IMPLEMENT SOME SUCH SCHEME.

BUT HE ADDED: +TO BEGIN THINKING ABOUT IT NOW, ESPECIALLY IF IN GOVERNMENT STANDARD TIME, WOULD NOT IN ANY WAY DETRACT FROM THE HOPED FOR DETERRENT EFFECT OF THE PRESENT CLOSED CAMP POLICY.+

HE ALSO COMMENTED ON A PARAGRAPH IN THE FINANCIAL SECRETARY'S BUDGET SPEECH WHICH STATED THAT +POOR PLANNING BY SPECULATORS HAD LED TO A CONSIDERABLE OVERSUPPLY OF ALL TYPES OF PROPERTY+.

IN THE STRICT CONTEXT OF SUPPLY AND DEMAND AND PROFIT, HE NOTED, THERE WAS A MEANING IN THAT SENTENCE.

HOWEVER, IN THE MORE REAL CONTEXT OF SUPPLY AND NEED, AS DISTINCT FROM DEMAND, HE THOUGHT THAT IT DID NOT MAKE SENSE.

SAID FR MCGOVERN: +WE STILL HAVE THOUSANDS OF SQUATTERS ON OUR HILLSIDES, OTHER THOUSANDS IN TEMPORARY HOUSING, STILL OTHER THOUSANDS IN ROOFTOP HUTS, NOT TO MENTION THE OLDER SLUMS AND THE NOT VERY HABITABLE MARK I AND II ESTATES.

+ALL THESE PEOPLE ARE LOOKING FOR JUST ONE THING, NAMELY, DECENT HOUSING AT A PRICE THEY CAN AFFORD.

→THERE IS STILL AN ACUTE UNDERSUPPLY OF SUCH PROPERTY.+