We are, and we will do our best to see that they do not choose such, people! Sir, the creation of monopolies or a franchise is only an enabling clause in the Bill. In fact, nothing can bind a successive government from changing its mind. It is an enabling clause and there is nothing to it. In fact, it is just one clause in between others. I think undue stress has been laid by the Opposition on it. Mr Tan Siak Kew has quoted, Sir, the possible conditions under clause 5 (1). The condition I think would be not on the amount of protection but rather that the local manufacturer should not come to an arrangement with any foreign manufacturer in which he holds less than 49 per cent. Take, for example, a small man making, say, a thousand cigarettes a day. The foreign man comes in because he cannot bring his cigarettes in. And he says, "Look here, I will pay $500 a month. Let me manufacture cigarettes here." So the foreign man "jumps" the protection, comes here to manufacture his cigarettes and then tells the Government, "I do not care tuppence for you!" And that is where the restrictive conditions will come in. You give a licence to the local man but he cannot come to an understanding with a foreign manufacturer without the permission of the Minister, and the Minister will see that the local man gets a fair share and that it is not an eyewashing arrangement for the outside man to come in and "jump" the protection barrier. Sir, the articles in the Nanyang Siang Pau and the Sin Chew Jit Poh were quoted. I think it was good that they were quoted. I have read these two articles with interest and I do not think there is any merit in both of them. "The Federation is the chief consuming market - four times the market of Singapore." That is not correct, Sir. The population of the Federation is four times that of Singapore, but the consuming power of Singapore as compared to that of the Federation is 40 to 60, because Singapore is an urban community and we have a higher purchasing power in Singapore. The Federation is mainly a rural community, and the purchasing power is less. Therefore the consuming ability is 40 for Singapore to 60 for the Federation - not 20 to 80. "Since Singapore is a negligible market, would it not be that most investors would reject Singapore and go to the Federation?" That is precisely what has happened. Factory owners who were about to go to the Federation stopped in their tracks when I made the statement about protection last month. It has been going on since the last one year. Factories have shifted to the Federation. They have had to close down because of the tariffs, but the moment I made this announcement, they stopped and we are now retaining these factories. They are thinking twice - and yet, Sir, we are told about century-old policies and asked to think about it. By the time you think about it, you will have lost all your factories. Nothing will have been left here to think about. Dr Benham was quoted by the Nanyang Siang Pau - "two-fifths of the foodstuffs go to the Federation." Exactly, Sir, and I have in my statement made it very clear that "under no circumstances will the operation of protection be allowed to interfere in any way with the entrepôt trade in produce, processed produce and textiles or raw materials". We are not going to touch foodstuffs and such things, Sir. We are only going to touch consumer goods and it might interest hon. Members of the Opposition to know this - if at all they study such things, which I do not think they do, because most of them, especially my hon. friend the Member for Tanjong Pagar, study only slogans to catch the political ears of the people. But as to the economic aspect, I do not think they have an economic policy, because they have never announced it. Sir, about 70 to 75 per cent of our trade is in these items - Arecanuts, canned pineapples, sago, sugar, raw coffee, tea, cloves, pepper, cigarettes, copra, rubber, jelutong, gum dammar, aviation spirit, kerosene, liquid fuel, palm oil, coconut oil, tapioca flour, cotton piece goods, artificial silk piece goods, tin. It varies. In 1951 it was 86 per cent. In 1956 it was 74 per cent. In 1957 it was 70 per cent. Nearly three-quarters of our entrepôt trade is not in the consumer goods which are going to be affected by protection. It is in these produce and textiles and processed goods and therefore the fear that our entrepôt trade is going to suffer, and foodstuffs - "two fifths of it go to the Federation" - are going to suffer, is unfounded and due to non-understanding on the part of the persons who make these suggestions. "Storage may be a problem." Bonded warehouses can overcome this problem. Other countries have done it. Why cannot we do it? Then the hon. Member quotes again, "Singapore has lost business in the past due to the direct trading activities of countries like Indonesia and Thailand." Exactly, that is what I have been telling the House for the last two years, and that is why we have got to open our eyes and do something about it - so that we will have something to fall back on when we lose more of our entrepôt trade - and that is coming - because in this present competitive age no country can afford to go to a middleman if it can help it. That means that if direct trade progresses, we are going to get less trade, which means that unless we do something on the industrial front we are going to be in a jam. I give figures - the hon. Member's figures were all for single months, but here are the comparisons. In 1955 our imports were 2,865,000,000 - it is not just the increase in figures we have got to see, but the difference between imports and exports, the balance of payments. Our exports were 2,781,000,000. In 1956 there was a jump in imports - 3,098,000,000; exports remained almost the same at 2,732,000,000. In 1957 imports were 3,277,000,000 - a jump again over the previous year; exports remained almost the same - 2,773,000,000. The result is that whereas exports have remained stagnant at around 2,700,000,000, imports have kept on jumping by roughly 200 million a year. The gap from 84 million in 1955 went up to 365 million in 1956 and 504 million in 1957; and that is the danger signal. As the imports increase, it shows that there is more consumption at home, and even if employment is a criterion - and employment is a big criterion, I will admit - it should not be the only criterion. We have got to produce more at home, not only just to find employment, but to cut down on our imports, because very soon you will find that you will not have enough money to import goods. Now our dollar is a dollar which operates in a whole area, but supposing later on with a Central Bank in the Federation or something else you find that you have to rely on your own prestige, your own economy - not on one that is bolstered up by the economies of surrounding countries like Malaya, Borneo, Sarawak - then you will find that your Singapore dollar will start fluctuating, if this state of affairs goes on. You have got to see that you import less and make what you can at home. The same story continues during all the months this year, if hon. Members of the Opposition care to read the statistics, which I doubt they do. Then another false argument, that is that the burden will fall on the shoulders of the people. That means the cost of living will go up. That is not so, because most of the goods that you consume here are manufactured in Europe or America, and labour there is as high as, if not higher than, in Singapore. Therefore you save on the cost of labour because Singapore labour is cheaper. You also save on freight. In many cases, you save on exorbitant profits made by these outside manufacturers because of their names. Is it desirable to have a tax on articles coming from the Federation? The Federation has decided it is desirable to have a tax on articles coming from Singapore.