TNAG-1393-FCO40-1865-Future-of-Hong-Kong-briefing-for-meetings-and-visits-1985 — Page 64

GENERA

Productivity(manufacturing) rose by 5 per cent in 1984. In the second quarter of

manufacturing productivity was 31 per cent above its trough in 1980 Q4 (an average growt.

of 6 per cent a year for 4 years). Since 1979 productivity has increased by around 31 per

cent a year compared with 1 per cent in the period 1974-1979.

UK's productivity for the whole economy improved by an average 2 per cent a year from 1980 to 1984 more than France (1 per cent) and Germany (1 per cent).

OECD).

(Source

Freedom, Enterprise and Initiative

Major improvements in turnover and profits recorded by many companies removed

from public sector under privatisation programme eg Cable and Wireless's pre-tax profits up 50 per cent Amersham's profits have quadrupled, Jaguars interim profits up 54 per cent on

C first half 1984.

Since 1979 number of employees participating in profit sharing schemes, has more than

doubled.

As a result of privatisation the number of people who directly own shares has doubled.

Civil Service down to 599,000 (1 April 1985)

took office in 1979.

K

cut of 18 per cent since Government

Owner occupation at highest ever level: 61 per cent for GB of all dwellings on latest

figures. Around million public sector tenants bought their houses since May 1979.

1.

Economic