TNAG-1728-FCO40-2441-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 148

This underlying theme is fully reflected in the Budget Report.

However, lused

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in the face of such an impressive surplus, one could easily be brought

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NP 25

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NP 32

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to adopt a spending mood. Without disputing the Financial Secretary's cautious approach we have to consider how best to treat the prosperity: which we have built up in the past two years. No doubt piling up

and safe mechodo

unceytä money is one of the good incentives in preparing for future incentives. However, it is not the kind of mentality a modern government should adopt, particularly the Government of Hong Kong. This policy appears to be both passive and conservative. The positive way is to invest in necessary and appropriate areas to strengthen the ferritory's potential. The large scale infrastructural projects highlighted by the Financial Secretary which are indeed positive steps in the right direction, represent only the physical aspect of these investments. There are other aspects like education, social services, sports and

our recreation which all deserve more serious attention. [Furthermore, Hong

Kong's major asset is its people not the huge reserve it has put in stock. This is specially important since Hong Kong is not only vulnerable to outside economies, but is also on the sensitive route

there are uncertainties serated from within. of transition to 1997, and the answer that i generated from within.

and/

is

To ensure that Hong Kong can survive and meet the challenges ahead we have to make sure the local community as a whole is ready and fully

equipped.

[

I would now turn to another aspect which will also have significant implications on Hong Kong's long term well being the shortage of

This has become a labour, especially in the manufacturing sector. controversial topic in the past months and yet no effective measure has been taken. It is disappointing that the Government is unwilling to tackle this problem directly and is adopting instead a wait-and-see

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attitude, hoping it will vapourise as Hong Kong's economy takes a

downward turn. The labour shortage faced by us is not only a problem

The of adjustment in the labour market. If no practical solution is

devised in time it will have long-term adverse effects on our economy. The quality of services and products will deteriorate while costs will go up and as a result this will hamper our competitiveness and