XN000022-1989-04-26 — Page 12

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WEDNESDAY, APRIL 26, 1989

IN ORDER TO RETAIN EXISTING STAFF AND TO CONTINUE TO ATTRACT OTHERS OF SIMILAR CALIBRE, IT WAS ESSENTIAL THAT THE SALARIES OFFERED TO STAFF AT THESE INSTITUTIONS WERE COMPARABLE ΤΟ THOSE AT THE UNIVERSITIES, MR CHENG SAID.

1

THE

QUESTION OF PARITY OF

TREATMENT AMONG THE SIX INSTITUTIONS, WHICH WERE COMPONENTS OF ONE SYSTEM OF HIGHER EDUCATION, WAS AN ISSUE WHICH SHOULD BE DEALT WITH WITHOUT ANY DELAY, HE SAID.

TURNING TO THE BUDGET AS A WHOLE, MR CHENG SAID IT WAS ENCOURAGING, PARTICULARLY WITH ITS EMPHASIS ON GROWTH IN SPENDING ON INFRASTRUCTURE, WHICH WAS 50 VITAL TO HONG KONG'S CONTINUED PROSPERITY.

MARTIN LEE CALLS FOR STEM TO EMIGRATION TIDE

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THE MOST IMPORTANT TASK FACING THE ADMINISTRATION TODAY IS TO STEM THE EMIGRATION TIDE AND MAKE THE PEOPLE STAY HERE. PARTICULARLY PROFESSIONAL PEOPLE AND THOSE IN MIDDLE MANAGEMENT, WHO ARE OFTEN CALLED "THE SANDWICH CLASS", THE HON MARTIN LEE SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAYE.

SPEAKING IN THE BUDGET DEBATE, MR LEK OBSERVED THAT THE SANDWICH CLASS WERE PEOPLE WE COULD LEAST AFFORD TO LOSE. THEY WERE ALSO THE PEOPLE WHO HAD TRADITIONALLY BORNE THE BRUNT OF THE TAX BURDEN BUT ENJOYED VERY FEW BENEFITS IN RETURN.

PROPOSALS BY THE ADMINISTRATION TO BUILD MORE INTERNATIONAL SCHOOLS, TO IMPROVE CONTACT WITH HONG KONG PEOPLE WHO HAVE MOVED OVERSEAS, AND TO TRAIN MORE PROFESSIONAL PEOPLE WOULD ONLY ALLEVIATE THE EMIGRATION PROBLEM IN SOME SMALL MEASURES, HE SAID.

A MUCH MORE EFFECTIVE WAY WAS ΤΟ MAKE HONG KONG A MORE ATTRACTIVE PLACE TO LIVE IN, AND THE FIRST THING WE COULD DO WAS TO HELP THESE PEOPLE MEET THE ASPIRATION OF BUYING THEIR OWN HOMES, HE ENVISAGED.

AS THE SPIRALLING PROPERTY AND HIGH INTEREST RATES HAD MADE IT QUITE IMPOSSIBLE FOR THE SANDWICH CLASS TO PURCHASE THEIR OWN HOMES, MR LEE URGED THE ADMINISTRATION TO HELF THEM BY ALLOWING TAX DEDUCTIONS FOR INTEREST PAYMENTS ON MORTGAGE LOANS FOR OWNER-OCCUPIED FLATS.

MR LEE HIGHLIGHTED A NUMBER OF MALPRACTICES IN THE PROPERTY MARKET. SUCH AS ESTATE AGENTS INVOLVED IN SPECULATION ACTIVITIES RATHER THAN SERVING THEIR CLIENTS, DIRECTORS AND EMPLOYEES OF REDEVELOPMENT COMPANIES RESERVING DOMESTIC UNITS AND REAPING HANDSOME PROFITS BY ALMOST IMMEDIATE RE-SALE AND TRIAD ACTIVITIES AMONG THE PEOPLE QUEUING UP FOR FLATS.

/"I SUGGEST