TNAG-0850-FCO40-1060-Future-of-Hong-Kong-New-Territories-leases-1979 — Page 20

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HK future

three

It is equally clear, however, that business confidence in Hong

Hong may be slightly more fragile than usual during the period of

decision-making on the lease problem."

We examine the speaker's credentials. He is a senior staff member of one of

the world's leading conservative financial papers. The job of such papers is

to provide accurate information of value to the investing class worldwide and,

in particular,, spot potential problems that might cause their readers and

advertisers financial hardship. We accept his credentials and note from the

text:

Fact No.2.

to

The New Territories lease is causing a problem, this problem is one of investors' confidence, and a solution to this problem is needed by the

early 1980's, i.e. not in 1997.

The speaker leaves the rostrum after some participants have noted with regret

that the formula that "can and will be found xikkixxkke at some time in the

next three years or so" is nowhere expanded on in his article.

Our next speaker is another Financial Journalist. He is Daniel Nelson, and he

also writes for the Financial Times in their special supplement on Hong Kong (an annual feature that attracts much valuable advertising revenue to his paper) on July 9th. 1979 in an article entitled " Infrastructure", headlined

• Decisions awaited on key issues'. Noting that the present airport at Kai Tak reaches saturation-point by the mid 1980's and that little expansion of capacity is possible there, he quotes a 'senior Government official' as

saying:

"If we don't build a new airport, Hong Kong will be strangled."

and continues that:

'...resolution of the matter depends on settlement of the question of the New Territories lease. The Government appears confident that if the lease question was settled, the airport

could be built and financed without undue strain on the economy.'

#1

Nilm

Fact No.3

fact. ann

The lack of a solution to the NT lease problem is holding back the building of a second airport in Hong Kong an airport which is vitally needed.

одиной

Mr. Bob Parry M.P. steps forward to provide us with some points of information that he has extracted from Parliament. He produces Hansard the Official Report of the proceedings of the House of Commons for 20 Jan 1977, and

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