Sir,
DRAFT SPEECH BY HON CHEUNG YAN-LUNG, OBE, SBSTJ, JP
LEGISLATIVE COUNCIL
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15.1.1986
Rating (Amendment) Bill 1986
ра
The Regional Council which will come into being on 1 April this year will be vested with statutory powers to perform a whole wide range of municipal services. If the Regional Council is to be able to function effectively and to provide the
residents of the Regional Council area with all the municipal
services and facilities they require, the Council must be provided with sufficient revenue to cover the cost of its
activities.
The Financial Secretary has referred to the estimated
net financial requirements of the Regional Council for 1986-87 and 1987-88 as being $744 million and $880 million respectively.
The Financial Secretary has also pointed out, and I want to emphasize, that these figures exclude expenditure on capital works which would normally be expected to be met by a financially autonomous municipal council such as the Regional Council. These involve sums estimated at about $250 million per annum, on the basis of past trend of expenditure in respect of municipal projects undertaken in the Regional Council area.
The proposal, as contained in the Rating (Amendment) Bill 1986 before use, involves, inter alia, a small increase in the rates in the Regional Council area. Under the same proposal, the Regional Council will receive all the revenue arising from this increased rates percentage. Furthermore, Government has agreed to meet such expenditure for capital works for the two years 1986-87 and 1987-88 within the average level of spending in this area during recent years in respect of items recommended by the Regional Council to proceed within this period.
HKK 01113 RECEIVED IN REGISTRY
31 JAN 1986
DESK OFFICER
INDEX
PA
REGISTRY
Action Taken
AjB 31/1
4