XN000022-1994-11-30 — Page 47

ANSWER:

26

E

WEDNESDAY, NOVEMBER 30, 1994

RESOURCE LIMITATIONS,

REMAIN

THE

INFLATION COMPONENTS

PRIMARILY BECAUSE OF ON-GOING

THE ECONOMY

STRONG PRESSURES IN INFLATIONARY UNDERLYING NOTWITHSTANDING THE RECENT EASING IN THE INFLATION RATE AS FOOD PRICES THE SETTLE TO A NORMAL LEVEL. THIS IS BORNE OUT BY THE COMPONENTS IN LATEST

IN GENERAL, CONSUMER PRICE CONSUMER PRICE INDICES. CONTINUES TO BE DRIVEN MOSTLY BY THE DOMESTICALLY-ORIENTED SUCH AS HOUSING, CONSUMER SERVICES AND TRANSPORT, THE PRICES OR OF WHICH CONTINUE TO RISE FASTER THAN AVERAGE. SEEMS ΤΟ HAVE INCREASED IN RELATIVE SIGNIFICANCE MORE REFLECTED BY THE MORE RAPID INCREASES IN THE PRICES OF MISCELLANEOUS CONSUMER GOODS WHICH ARE LARGELY IMPORTED. TO DOMESTICALLY GENERATED INFLATION, IMPORTED INFLATION IS ONLY MINOR INFLUENCE:

COSTS IMPORTED INFLATION RECENTLY, A9 CLOTHING AND BUT RELATIVE STILL OF

IS CLOSELY

LABOUR.

IT IS CLEAR THAT DOMESTICALLY GENERATED INFLATION LINKED TO CONSTRAINTS IN THE KEY RESOURCES, NOTABLY LAND AND MEASURES TO ALLEVIATE THE RESOURCE CONSTRAINTS WILL THEREFORE NOT ONLY

ALSO BUT WILL INFLATION, ΤΟ HELP

ALLEVIATE PRODUCTIVE

THEREBY CONTRIBUTING TO CAPACITY, GROWTH AND COMPETITIVENESS.

FORCE

ADEQUATE

ENHANCE HONG KONG'S HONG KONG'S ECONOMIC

ΤΟ

GOVERNMENT'S TASK ON LAND RESOURCES, THE TWO REPORTS OF THE

INCLUDING TAKEN,

THE HAVE

ACTION BEING LED TO CONSCIOUS

THERE WILL BR ESTABLISHMENT OF

THE HOUSING BRANCH, TO ENSURE THAT

UP DEMAND.

TO 120 AND LAND TO MEET SUPPLY OF HOUSING

THE NORMAL HECTARES OF NEW LAND HAVE BEEN IDENTIFIED OVER AND ABOVE LAND DISPOSAL PROGRAMME FOR RESIDENTIAL DEVELOPMENT IN THE MEDIUM LONGER TERM. AS TO COMMERCIAL DEVELOPMENT, ADDITIONAL LAND FOR OFFICE

MADE

CENTRAL AND WAN CHAI PREMISES WILL BE

MOREOVER, THE NEW CATEGORY RECLAMATION AND ALONG THE AIRPORT RAILWAY.

PROJECTS BUILDING

WILL

A PROVIDE IN GENERAL, WHERE COMPLEMENTARY SOURCE OF SUPPLY OF NEW OFFICE SPACE.

THEY DEVELOPMENT PLANS ARE LODGED THE GOVERNMENT WILL SEE TO IT THAT ARE PROCESSED EXPEDITIOUSLY.

OF INDUSTRIAL/OFFICE

AVAILABLE

(1/0)

FROM THE

ON

*LABOUR

RESOURCES,

ALTHOUGH THE

ECONOMY

IS

CURRENTLY DUE TO MORE

KONG, TIGHT LABOUR

BENEFITING FROM A FASTER INCREASE IN THE LABOUR FORCE FORMER EMIGRANTS RETURNING AND MORE EXPATRIATES COMING TO HONG THE DEMAND FOR LABOUR IS PERSISTENTLY STRONG GIVING A

FOR THE LONGER TERM, RAISING LABOUR MARKET OVERALL.

PRODUCTIVITY BUT IN THE INTERIM, OFFERS THE BEST SOLUTION TO THE LABOUR SHORTAGE.

THIS IS ADDITIONAL LABOUR SUPPLIES FROM IMPORTED SOURCES ARE HELPFUL.

WHERE THE MASSIVE INDEED THE CASE WITH OUR AIRPORT CORE PROGRAMME,

ALREADY HEAVILY WORKLOAD AND THE TIGHT TIME SCHEDULE, ALONG WITH AN

A SUBSTANTIAL LOADED CONSTRUCTION INDUSTRY AT PRESENT, DICTATE THAT AMOUNT OF IMPORTED LABOUR WILL BE REQUIRED TO ENSURE SMOOTH AND TIMELY COMPLETION

JUDICIOUSLY OF THE PROJECTS. WE BRING IN FOREIGN WORKERS ACCORDING TO NEED, AND IN A CONTROLLED MANNER SO THAT THE INTEREST OF

AS WILL

INASMUCH LOCAL WORKERS

BE UNDULY AFFECTED.

A LESS NOT

FOR ECONOMIC CONSTRAINED LABOUR SUPPLY CAN HELP TO ENHANCE CAPACITY GROWTH AND LOWER INFLATION, THE COMMUNITY AT LARGE WILL BENEFIT.

/THE GOVERNMENT