Key to Development
Manpower
103. Government attaches great importance to investment in people. In 2014-15, the recurrent expenditure on education will be $67.1 billion, taking up the largest share of recurrent government expenditure, also an increase of nearly 80 per cent over 1997-98.
104. A general rise in the education level of the workforce helps our market move towards a high value-added model. However, there remain a manpower mismatch and relatively high youth unemployment rate that we need to address. The city cannot afford to let the talent of any of its members go to waste. To ensure that our manpower resources can meet the needs of economic development; we have to specifically strengthen life planning, vocational education and training for the youth.
105. Shortage of manpower hampers the development of certain industries. Labour shortage in the construction sector, for instance, would affect the delivery of infrastructure projects. Apart from encouraging young people to join these industries, admitting from abroad talent and workers not available in Hong Kong will also help maintain our competitiveness. I hope that employers, employees and the community will work towards solutions to the problems through candid and open discussions.
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