1998 — Page 60

Urban Council Proceedings 市政局議事錄 All AI Reviewed
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82

PROVISIONAL URBAN COUNCIL

Just now, Mr. Joseph Lau, Mr. Eric Wong and Ms. Grace Au proposed three options. I would give my views on these three options. The first view is about the option of creating job opportunities within our ambit, such as setting up flea markets to enable the unemployed or hawkers to make a living or run some small business there. I consider this to be positive and appropriate.

The second view is about the policy on reduction of rentals. We should not worry too much about our financial resources, because if we don't have enough financial resources, we can seek additional funding from the Central Government. If we consider that the lessees cannot afford the rentals because of poor business in the economic recession, we should reduce their rentals, or else they would have to wind up their business just the same. In other words, our policy on reduction of rentals could also create job opportunities.

The third view is about the recommendations of the motion. I would view the economy from another angle. The economy of Hong Kong is ailing but be they fever, dizziness or diarrhea, or the unemployment problem or high unemployment rate, a lot of symptoms are symptoms rather than the causes of the illness. If we proceeded with our projects, be they phase-III or phase-IV projects, or created some additional posts to provide more jobs, we would only be attacking the problem in an indirect way. It is not direct and cannot tackle the illness at the root. From the economic point of view, I consider that we need first of all to have a comprehensive plan, which must not beat about the bush. You may argue that a lot of recommendations are comprehensive measures, but they are all short-term measures. In fact, there are two factors that account for the present economic situation and core problems, namely,

(1) the high interest rates; and

(2) tightened credit lending.

Because of these two factors, the investment environment has become unfavourable. The liquidity of small or medium, even large enterprises is hard hit by the credit crunch. As they cannot balance their proceeds and costs, the result is staff retrenchment or winding up of the business, which in turn leads to an even higher rate of unemployment.

If we followed up on the recommendations of the motion by focussing our efforts on speeding up progress of the projects, job opportunities in the construction sector would be created because more workers would be needed, but let us take a look at the categories of the 130,000 jobless workers. Are they mostly construction workers? I therefore do not consider that the problem of unemployment would be solved just by investing more and creating more job opportunities in infrastructural projects. In other words, the remedy is too slow for an urgent problem.

I agree that our projects should be accelerated within the Council's ambit and services, but the purpose is not to create more opportunities. In our discussions, we always advocate the acceleration of our projects for the

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Page 60 of 606 1606 Page 60 of 606 82 PROVISIONAL URBAN COUNCIL Just now, Mr. Joseph Lau, Mr. Eric Wong and Ms. Grace Au proposed three options. I would give my views on these three options. The first view is about the option of creating job opportunities within our ambit, such as setting up flea markets to enable the unemployed or hawkers to make a living or run some small business there. I consider this to be positive and appropriate. The second view is about the policy on reduction of rentals. We should not worry too much about our financial resources, because if we don't have enough financial resources, we can seek additional funding from the Central Government. If we consider that the lessees cannot afford the rentals because of poor business in the economic recession, we should reduce their rentals, or else they would have to wind up their business just the same. In other words, our policy on reduction of rentals could also create job opportunities. The third view is about the recommendations of the motion. I would view the economy from another angle. The economy of Hong Kong is ailing but be they fever, dizziness or diarrhea, or the unemployment problem or high unemployment rate, a lot of symptoms are symptoms rather than the causes of the illness. If we proceeded with our projects, be they phase-III or phase-IV projects, or created some additional posts to provide more jobs, we would only be attacking the problem in an indirect way. It is not direct and cannot tackle the illness at the root. From the economic point of view, I consider that we need first of all to have a comprehensive plan, which must not beat about the bush. You may argue that a lot of recommendations are comprehensive measures, but they are all short-term measures. In fact, there are two factors that account for the present economic situation and core problems, namely, (1) the high interest rates; and (2) tightened credit lending. Because of these two factors, the investment environment has become unfavourable. The liquidity of small or medium, even large enterprises is hard hit by the credit crunch. As they cannot balance their proceeds and costs, the result is staff retrenchment or winding up of the business, which in turn leads to an even higher rate of unemployment. If we followed up on the recommendations of the motion by focussing our efforts on speeding up progress of the projects, job opportunities in the construction sector would be created because more workers would be needed, but let us take a look at the categories of the 130,000 jobless workers. Are they mostly construction workers? I therefore do not consider that the problem of unemployment would be solved just by investing more and creating more job opportunities in infrastructural projects. In other words, the remedy is too slow for an urgent problem. I agree that our projects should be accelerated within the Council's ambit and services, but the purpose is not to create more opportunities. In our discussions, we always advocate the acceleration of our projects for the Page 60 of 606 Page 60 Page 61 Page 61 of 606
Baseline (Original)
Page 60 of 606 1606 Page 60 of 606 82 PROVISIONAL URBAN COUNCIL Just now. Mr. Joseph Lat, Mr. Eric Wong and Ms. Grace AU proposed three options. I would give my views on these three options. The first view is about the option of creating job opportunities within our ambit, such as setting up flea markets to enable the unemployed or hawkers to make a living or run some small business there. I consider this to be positive and appropriate. The second view is about the policy on reduction of rentals. We should not worry too much about our financial resources, because if we don't have enough financial resources, we can seek additional funding from the Central Government. If we consider that the lessees cannot afford the rentals because of poor business in the economic recession, we should reduce their rentals, or else they would have to wind up their business just the same. In other words, our policy on reduction of rentals could also create job opportunities. The third view is about the recommendations of the motion. I would view the economy from another angle. The economy of Hong Kong is ailing but be they fever, dizziness or diarrhea, or the unemployment problem or high unemployment rate, a lot of symptoms are symptoms rather than the causes of the illness. If we proceeded with our projects, be they phase-III or phase-IV projects, or created some additional posts to provide more jobs, we would only be attacking the problem in an indirect way. It is not direct and cannot tackle the illness at the root. From the economic point of view, I consider that we need first of all to have a comprehensive plan, which must not beat about the bush. You may argue that a lot of recommendations are comprehensive measures, but they are all short-term measures. In fact, there are two factors that account for the present economic situation and corc problems, namely, (1) the high interest rates; and (2) tightened credit lending. Because of these two factors, the investment environment has become unfavourable. The liquidity of small or medium, even large enterprises is hard hit by the credit crunch. As they cannot balance their proceeds and costs, the result is staff retrenchment or winding up of the business, which in turn leads to an even higher rate of unemployment. If we followed up on the recommendations of the motion by focussing our efforts on speeding up progress of the projects, job opportunities in the construction sector would be created because more workers would be needed, but let us take a look at the categories of the 130 000 jobless workers. Are they mostly construction workers? I therefore do not consider that the problem of unemployment would be solved just by investing more and creating more job opportunities in infrastructural projects. In other words, the remedy is 100 slow for an urgent problem. I agree that our projects should be accelerated within the Council's ambit and services, but the purpose is not to create more opportunities, In our discussions, we always advocate the acceleration of our projects for the Page 60 of 606 Page 60Page 61 Page 61 of 606
2026-05-16 05:59:43 · Baseline
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Page 60 of 606

1606

Page 60 of 606

82

PROVISIONAL URBAN COUNCIL

Just now. Mr. Joseph Lat, Mr. Eric Wong and Ms. Grace AU proposed three options. I would give my views on these three options. The first view is about the option of creating job opportunities within our ambit, such as setting up flea markets to enable the unemployed or hawkers to make a living or run some small business there. I consider this to be positive and appropriate.

The second view is about the policy on reduction of rentals. We should not worry too much about our financial resources, because if we don't have enough financial resources, we can seek additional funding from the Central Government. If we consider that the lessees cannot afford the rentals because of poor business in the economic recession, we should reduce their rentals, or else they would have to wind up their business just the same. In other words, our policy on reduction of rentals could also create job opportunities.

The third view is about the recommendations of the motion. I would view the economy from another angle. The economy of Hong Kong is ailing but be they fever, dizziness or diarrhea, or the unemployment problem or high unemployment rate, a lot of symptoms are symptoms rather than the causes of the illness. If we proceeded with our projects, be they phase-III or phase-IV projects, or created some additional posts to provide more jobs, we would only be attacking the problem in an indirect way. It is not direct and cannot tackle the illness at the root. From the economic point of view, I consider that we need first of all to have a comprehensive plan, which must not beat about the bush. You may argue that a lot of recommendations are comprehensive measures, but they are all short-term measures. In fact, there are two factors that account for the present economic situation and corc problems, namely,

(1) the high interest rates; and

(2) tightened credit lending.

Because of these two factors, the investment environment has become unfavourable. The liquidity of small or medium, even large enterprises is hard hit by the credit crunch. As they cannot balance their proceeds and costs, the result is staff retrenchment or winding up of the business, which in turn leads to an even higher rate of unemployment.

If we followed up on the recommendations of the motion by focussing our efforts on speeding up progress of the projects, job opportunities in the construction sector would be created because more workers would be needed, but let us take a look at the categories of the 130 000 jobless workers. Are they mostly construction workers? I therefore do not consider that the problem of unemployment would be solved just by investing more and creating more job opportunities in infrastructural projects. In other words, the remedy is 100 slow for an urgent problem.

I agree that our projects should be accelerated within the Council's ambit and services, but the purpose is not to create more opportunities, In our discussions, we always advocate the acceleration of our projects for the

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