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M
Wednesday, October 6, 1971
Mr. Haddon-Cave also revealed that the Governor had been personally
concerned with these negotiations and, in response to Britain's request for
£60 million, had "quickly pointed out that a contribution of this magnitude
was quite out of the question and quite unreasonable particularly in relation
to the very heavy calls which Hong Kong will have on its resources over the
next few years."
Commenting on the amount of land handed back to the Hong Kong
Government by the Armed Services, the Financial Secretary said: "As a result
of the 1966 negotiations we got back 160 acres of land to the value of £15
million (including, for example, Whitfield Barracks) and this figure of £15
million is to be compared with the £20 million we paid over the four years
of the previous period.
"I cannot say with complete certitude how much land we shall get back
as a result of the capital works programme planned under this new agreement
but it appears likely that the Services will in due course be able to release
some 520 acres at Lyemun, in the New Territories and along Chatham Road and
Argyle Street. It is very difficult to estimate how much this land might
be worth to us
in either financial or social terms, but it will represent a
very considerable offset against what we shall be paying out."
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