XN000022-1987-06-17 — Page 17

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WEDNESDAY, JUNE 17, 1987

MR PAGLIARI SAID THERE WERE THOSE WHO WOULD HAVE THE AMOUNT OF WAGES IN LIEU OF NOTICE, WHICH THIS BILL WOULD PROTECT, INCREASED то A MONTH'S WAGES OR $2,000; AND THOSE WHO WOULD SEE OTHER WORKERS' BENEFITS, SUCH AS SEVERANCE PAY AND HOLIDAY PAY, ALSO BROUGHT UNDER THE PROTECTION OF THE FUND.

"THESE ARE ALL WORTHY AIMS BUT HONG KONG'S SUCCESS DERIVES FROM A COMBINATION OF INITIATIVE AND PRUDENCE; TO KNOW ONE'S GOAL NOT TO LEAVE ONESELF EXTENDED AND VULNERABLE IN THE PURSUIT OF IT, HE SAID.

"

"ALTHOUGH THE SIZE OF THE FUND CONTINUES TO GROW, IT MUST BE REMEMBERED THAT IT HAS ONLY BEEN IN OPERATION FOR TWO YEARS AND THERE ARE NO GUARANTEES THAT THIS TREND WILL CONTINUE.

"I

MR PAGLIARI SAID A DOWNTURN IN THE ECONOMY RESULTING IN A GREATER NUMBER OF INSOLVENCIES OR FEWER THAN FORECAST COMPANY REGISTRATIONS COULD PUT SEVERE PRESSURE ON THE FUND'S RESOURCES.

"IT IS IMPORTANT, THEREFORE, THAT THE FUND BUILDS UP A SOUND RESERVE DURING THE ECONOMY'S GOOD YEARS, SO THAT IT CAN PROTECT WORKERS' INTERESTS WHEN TIMES ARE HARD, HE SAID.

**

MR PAGLIARI ALSO SAID THE SUMS AVAILABLE IN THE FUND AND THE EFFECT OF THIS MEASURE ON THE FUND WOULD BE KEPT UNDER REVIEW, AND FURTHER EXTENSIONS OF THE COVERAGE OF THE FUND WOULD BE INTRODUCED CIRCUMSTANCES PERMITTED.

AS

DEBATE ON THE BILL WAS ADJOURNED.

GOVERNMENT TO TOP UP IMPROVEMENT COST

*

THE COST-SHARING ARRANGEMENT BETWEEN THE GOVERNMENT AND THE NINE AIDED SCHOOLS TO INSTALL NOISE ABATEMENT MEASURES DURING THE SUMMER VACATION 18 IN LINE WITH THE LONG ESTABLISHED FUNDING POLICY REGARDING THE CAPITAL COSTS OF BUILDINGS AND IMPROVEMENTS FOR AIDED SCHOOLS, THE ACTING FINANCIAL SECRETARY, THE HON DAVID NENDICK, IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

SAID

IN REPLY TO A QUESTION BY DR THE HON DANIEL TSE, MR NENDICK SAID THE COMMITMENT OF $16.4 MILLION BY THE GOVERNMENT WAS TO MEET 80 PER CENT OF THE COST OF THE IMPROVEMENT WORKS SCHOOL SPONSORS WOULD BE ASKED TO CONTRIBUTE THE REMAINING CENT.

INTENDED AND THE

20

PER

"THIS 80:20