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The budget provides $549M this year for a double tracking and electrification of the Kowloon Canton Railway. The whole project will cost $2B. A very large part of this will be spent in the UK, with whom we have placed the order for the rolling stock. We could have placed the order elsewhere. The rolling stock for the MTR was also supplied by the UK. Likewise we could have placed that order elsewhere. not do so because we believed in fostering reciprocity in trade between the UK and Hong Kong.
We did
So too
Without going into details, other large sums out of this year's budget will buy British goods and services. in the private sector. For example, Cathay Pacific Airways bought UK equipment. They specified that their 747 should be powered by Rolls Royce engines: so far, I am informed, they have invested £70M in Rolls Royce engines to that end, and plan to invest $10M a year on UK equipment.
a furtherance of reciprocity.
This was in
It has come therefore as a surprise to me that in the matter of granting landing rights on the Hong Kong London airroute the Civil Aviation Authority in London should have forgotten about reciprocity: reciprocity both as regards two-way trade, and reciprocity in the specific matter of landing rights.
The reasons
Instead British Airways held the monopoly for 30 years. of reciprocating by granting a licence to Cathay Pacific, either with the addition of British Caledonian or to its exclusion, they have added a second British carrier to the route. given by the Civil Aviation Authority do not bear examination for one minute. We would not be better served by an airline that proposes to use the smaller DC 10 rather than the Boeing 747. CAA has completely ignored the pattern of traffic, with peaks on both sides of the weekend and dips in midweek.
It has
The