C.S. 166
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15
XCC(75)55
on ordinary public funds. In any case, many of the schemes would involve such widespread demolition of property and displacement of people that they could not be contemplated. Even where displacement of people was not involved, further flyovers, double-decked highways and similar structures would inevitably add to air and noise pollution, and worsen living conditions. The Railway, by contrast, will provide a quick and efficient means of movement which will not be affected by congestion on the surface, This, in turn, will ease the overall problems of congestion, thereby facilitating the movement of essential services, supplies and goods on which Hong Kong's economy depends.
48
Job opportunities for local workers and the boost to con- fidence that will result from the actual commencement of work are other points that should be brought out.
Advice Sought
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to note
(a)
(b)
(c)
Honourable Members will be invited:
that tenders for representative contracts for the Modified Initial System on the basis of a multi- contract approach have been invited and received and the likely terms of export credit arrangements obtained;
that, after an analysis of these tenders and the preparation of revised estimates of the cost of the MIS, together with a re-assessment of revenue and the availability and terms of finance, the project is still considered to be viable;
that the additional revenue likely to be generated by property development will provide an additional safeguard for the viability of the project; and
to advise
(d)
(e)
that the Mass Transit Railway Corporation Ordinance be brought into operation immediately and contracts be let for the construction and equipping of the Modified Initial System;
that a motion should be introduced into the Legislative Council to authorise the granting of Government guarantees for loans for the Modified Initial System.
CONFIDENTIAL
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