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about fare levels in the 1980s should be allayed by quoting the tentative figures mentioned in paragraph 26 above.
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Public support for the proposed extension could best be stimulated by the Government expressing unequivocally its own belief in the future viability of the Mass Transit Railway as a whole and its conviction that the provision of a system to transport large numbers of people rapidly through some of the most crowded parts of the urban area, and the resultant alleviation of congestion on the roads, will be a benefit which the entire population of Hong Kong will eventually enjoy.
Advice sought
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(a)
(b)
(c)
Honourable Members are asked:
to advise whether the Government should accept the recommendation of the Board of the Mass Transit Railway Corporation that the Modified Initial System be extended to Tsuen Wan as quickly as possible;
to note that this will involve the Government contributing about $170 million in Crown Land premia and $11 million for rates in return for equity, subject to the approval of Finance Committee;
to note that the Government might have to guarantee additional loans of up to $4,900 million but that the amount is, in practice, not likely to exceed about a half of this sum.
(The Secretary for the Environment (Mr D. J. C. JONES), the Secretary for Monetary Affairs (Mr D.W.A. BLYE), the Director of Public Works (Mr D. W. McDONALD), the Commissioner for Transport (Mr I. F. C. MACPHERSON), the Principal Government Highway Engineer (Mr S.A. BARDEN), the Chairman of the Mass Transit Railway Corporation (Mr N.S. THOMPSON) and the Manag- ing Director of the Mass Transit Railway Corporation (Dr T. M. RIDLEY) will attend before the Council for the discussion of this item).
29th June 1977
(CR 16/5591/76 II)
COUNCIL CHAMBER
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