16
-
WEDNESDAY, MARCH 2, 1994
"WHILE WE PLAN TO COMPLETE A HUNDRED KILOMETRES OF NEW ROADS BY IN THE AVERAGE 1997, THIS WILL NOT BE ENOUGH TO PREVENT A DECLINE SPEED AT WHICH THE TRAFFIC MOVES,
HE SAID.
"LET ME STATE CLEARLY THAT WE CANNOT SPEND OUR WAY OUT OF PROBLEM. THE POTENTIAL DEMAND FOR ROAD SPACE IS INSATIABLE.
THIS
BUT, GIVEN THE SIZE OF HONG KONG, THE SUPPLY OF NEW HIGHWAYS IS SELF-EVIDENTLY CONSTRAINED.
QUITE APART FROM THE HUGE SUMS OF MONEY INVOLVED, HE SAID ENVIRONMENTAL CONSEQUENCES WOULD SURELY BE UNACCEPTABLE.
THE
"THERE IS A LIMIT ON HOW MUCH OF THE SCARCE LAND WE CAN WITH ROADS, ESPECIALLY IN HEAVILY BUILT-UP AREAS.
HAS
RECENTLY
ANNOUNCED
COVER
THE SECRETARY FOR TRANSPORT ESTABLISHMENT OF A WORKING PARTY TO LOOK AT THESE DIFFICULT ISSUES.
THE
TO
"HE IS TREATING THIS MATTER AS AN URGENT PRIORITY AND PLANS
IN THE FINAL ANALYSIS, WE COME FORWARD SOON WITH PRACTICAL SOLUTIONS. WILL HAVE THE DIFFICULT TASK OF BALANCING THE AMBITIONS OF THE PRIVATE MOTORIST AGAINST THE BROADER INTERESTS OF THE COMMUNITY,
GOVT PROPOSES A FINANCIALLY-SECURE RETIREMENT
A
PENSION
SCHEME
ARE
SIMPLER
AND MORE FINANCIAL
ARRANGEMENTS FOR EFFECTIVE THAN THOSE OF A CENTRAL PROVIDENT FUND (CPF), THE SECRETARY, THE HON SIR HAMISH MACLEOD, SAID TODAY (WEDNESDAY).
SIR BENEFITS
DELIVERING HIS 1994/95 BUDGET IN THE LEGISLATIVE COUNCIL, HAMISH SAID A PENSION SCHEME WOULD PROVIDE MORE CERTAINTY IN THAN A CPF.
IT WILL NOT RAISE COMPLEX ISSUES SUCH UNCERTAINTY OF RETURNS, AND THE MANAGEMENT OF AGAIN UNLIKE A CPF, HE ADDED.
AS INVESTMENT RISKS, HUGE FUND BALANCES,
THE
MORE, A PENSION SCHEME CAN PROVIDE FINANCIAL SECURITY FOR AGED MUCH MORE RAPIDLY AND RELY ON LOWER LEVELS OF CONTRIBUTION THAN A CPF.
OLD
FINALLY, A PENSION FUND WILL PROVIDE A FINANCIALLY SECURE
EARNERS, CASUAL AGE FOR EVERYBODY, INCLUDING HOUSEWIVES, LOW-INCOME WORKERS AND THE OTHER GROUPS WHOSE NEEDS WOULD NOT BE MET BY A CPF.
HE
SAID LEGISLATORS HAD VOICED CONCERNS ON TWO POINTS:
*
INSTEAD OF A PENSION, WHY NOT INCREASE THE LEVEL OF SECURITY PAYMENTS AND MEANS-TEST THE BENEFICIARIES?
SOCIAL
*
WOULD
FROM CONTRIBUTIONS HOW
A PENSION FUND COLLECT
SELF-EMPLOYED, MEMBERS OF THE WORKFORCE WHO ARE 146,000 GROUP WHICH INCLUDES PROFESSIONALS AS WELL AS HANKERS?
THE
A
/"WE SHOULD
No comments yet.
Private notes are available after approval.