1990-10-31 23:23 A.1.S
P.04
5.
to
On the labour front, we continue to experience a
tight market, although some slight easing was evident in
the unemployment and underemployment rates for June
August. Nevertheless, wages and earnings continue to show rapid increases. In our current circumstances, both the private and public sectors must exercise restraint to avoid the damaging effects of rising costs and prices on the
overall well-being of our community. The Government will
continue to exercise tight control over the growth in public sector expenditure to ensure that it does not
compete for scarce resources required
required for private sector activities and thus further fuel inflation.
fuel
The recent:
schemes for importation of labour should help to relieve
labour shortages and reduce wage
wage pressure in certain
critical areas in the labour market.
6.
Overall, our economic prospects in the medium
longer term remain good, but the Gulf crisis has, of course, injected new uncertainties, and these uncertainties could well have some impact on our economic performance.
Industry and science and technology
7.
formulate
I shall now turn to our
industrial policy. A
number of Members have suggested that the Government should
a comprehensive strategy to guide Hong Kong's industrial development. Some have argued in
particular that the Government should take the lead in promoting technological development.
future
No comments yet.
Private notes are available after approval.