XN000022-1987-10-07 — Page 19

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WEDNESDAY, OCTOBER 7, 1987

SIR DAVID SAID THE GOVERNMENT HAD DECIDED NOT ΤΟ SET UP A CENTRAL PROVIDENT FUND OR TO MAKE PRIVATE FUNDS COMPULSORY. THE ECONOMIC EFFECTS OF A COMPULSORY SCHEME WOULD BE FAR REACHING AND IT WAS BY NO MEANS CERTAIN THAT A CPF WOULD PROVIDE A SUFFICIENT LEVEL OF SECURITY TO THOSE MOST IN NEED. BUT THE GOVERNMENT WOULD ENCOURAGE THE DEVELOPMENT OF PRIVATE RETIREMENT SCHEME AND PROPOSED TO INTRODUCE REGULATIONS WHICH WOULD SAFEGUARD PARTICIPANTS IN THEM.

SIR DAVID ALSO SAID THAT THE FOUNDATIONS FOR FUTURE PROSPERITY MUST CONTINUE TO BE LAID. LARGE SUMS HAD ALREADY BEEN SPENT ON ROADS, RAILWAYS, WATER SUPPLIES, PORT AND THE AIRPORT, AND THIS PROGRAMME WOULD CONTINUE.

FIVE BILLION DOLLARS WOULD BE SPENT ON ROADS ALONE NEXT FIVE YEARS.

OVER THE

POLLUTION WOULD BE TACKLED WITH DETERMINATION, AND OVER THE NEXT DECADE AS MUCH AS $10 BILLION WOULD BE SPENT ON IMPROVING WATER QUALITY IN THE HARBOUR AND AROUND THE COAST.

TURNING TO THE DEVELOPMENT OF REPRESENTATIVE GOVERNMENT, THE GOVERNOR NOTED THAT THE SURVEY OFFICE HAD RECEIVED OVER 130,000 SUBMISSIONS.

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HE SAID THAT HE WOULD NOT ATTEMPT TO PRE-JUDGE THE CONTENTS THE SURVEY OFFICE REPORT BUT CONFIRMED THAT THE GOVERNMENT WOULD TAKE FULL ACCOUNT OF ALL THE VIEWS RECORDED IN IT AS WELL AS OTHER RELEVANT FACTORS, INCLUDING THE NEED TO ENSURE THAT ANY CHANGES WHICH MIGHT BE INTRODUCED DID NOT DISRUPT THE STEADY PROGRESS HONG KONG HAD BEEN MAKING NOR THE STABILITY WHICH WAS SO IMPORTANT TO OUR COMMUNITY.

THE GOVERNOR ALSO ANNOUNCED THE SETTING UP OF AN ADVISORY COMMITTEE, CHAIRED BY SIR ROGER

LOBO, TO VET APPLICATIONS FROM RETIRING DIRECTORATE LEVEL OFFICERS WISHING TO TAKE UP EMPLOYMENT THE PRIVATE SECTOR.

IN

HE ALSO SAID AN INTERNATIONAL FIRM OF MANAGEMENT CONSULTANTS WAS BEING ENGAGED TO HELP REVIEW THE DISTRIBUTION OF RESPONSIBILITIES BETWEEN BRANCH SECRETARIES AND TO EXAMINE THE WORKING RELATIONSHIPS AND RELATIVE ROLES OF SECRETARIES AND HEADS OF DEPARTMENTS. HE THE CONSULTANTS' REPORT WAS TO BE COMPLETED WITHIN SIX MONTHS.

ADDED

/SIR DAVID