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are met in such a way as to ensure the optimum mobility of Hong Kong's population, in particular of the working population. The introduction of the System is also seen as the most sensible method of ensuring reasonable future road conditions.
46.
This paper has concentrated upon presenting the system as one which can be financed, constructed and operc.ted on an independently viable basis. References to indirect benefits from the system have not expressed a price for these berefits. Similarly the argument for the system has not mentioned the inevitable rise in revenue from road-user's although this will to some cxtent be justified by the existence of a high standard of public transport.
47.
It is concluded that full Government support for the scheme will be necessary to the extent of considerable direct participation in financing its construction and of guaranteeing the security of any finance raised by loans or bonds.
48.
It is concluded that Government will also be required to set up a public authority to operate the system.
TIMING
49.
If a decision to proceed with the project is taken by mid-1971. the Initial System could be built and be operational by 1979. The first operational:ction would be open to the public by the end of 1976. By continuing with the remainder of the stages, the Full System could be operational by the Design Yec. 1986,
50.
There is an obvious need to proceed as quickly as possible to a decision on this project so that the System may be in use serving the public and earning revenue at the earliest possible date. Failing that urgent alternative measures will have to be explored and introduced,
RECOMMENDATION
51.
(a)
Members will be asked to vise:..
whether the ubway System proposed by the Consultants is necessary and adequate to meet Hong Kong's future transport requirements;
(b) whether Government should commit itself to approving and giving its full suport to the ystem bearing in mind the financial implications of the proposals out- lined in the paper and the other demands on 'Govern- ment's revenues-
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