89. On financing school buildings, Government's declared policy is that expansion of education, wherever possible, will be in the aided sector. We have therefore limited our discussion of school building to the aided sector.
90. In financing aided secondary school projects, capital costs are at present shared between Government subsidy and contributions from the sponsors for the various types of schools in the following propor- tions:
Type of School
Grammar
Technical
Pre-vocational Asymmetrical
...
Government
Sponsor
...
...
80%
20%
::
...
80%
20%
80%
20%
84%
16%
or
or
75%
...
...
...
25%
Using present day costs, this means an apportionment of costs in the
following manner:
Type of School
Government (in $ millions)
Sponsor (in $ millions)
Total (in $ millions)
Grammar
...
Technical
3.84
4.7
.96
4.80
1.17
...
...
5.87
Pre-vocational Asymmetrical
3.6
.90
...
4.50
4.1
...
.78
4.88
...
or
1.22
or 3.66
Under current financing procedures, it is possible for sponsors to receive an interest free loan, repayable over eleven years, to cover all or part of their contribution. However the loan repayment is reflected in the fees charged to the students. As the new schools to be provided will be of the technical and pre-vocational type, sponsors of each school will have to find about $1,000,000 as their share of the financing. This position will be somewhat alleviated by the fact that secondary school buildings are to be provided as integral parts of housing estates and handed over to sponsors to equip. However, the cost of furniture and equipment for standard plan technical and pre-vocational schools is now estimated to be of the order of $720,000 and $950,000 respectively.
91. Against a background of continually rising costs of construc- tion, furniture and equipment for schools, sponsors of aided school projects are currently required to undertake an increasingly heavy
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