.
11.2.87
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Thus, in the next four years we will provide additional
good quality, subsidized housing for nearly 800 000 people.
95.
As regards the Home Ownership Scheme, some
52 000 flats out of 68 000 flats in the first eight phases
ill have been completed by the end of 1987-88. Work is
in hand on the balance and on a further 20 000 flats in
later phases (32). More will follow.
Education
96.
Expenditure on education in 1987-88 will be
$9.8 billion. This represents 18.3% of consolidated
account expenditure compared with 14.3% five years
before. It is a wise investment in our future (33). The
Medium Range Forecast takes account of likely continued
growth in this area and the financial impact of the
Education Commission's proposals where they have been
accepted.
(32)
(33)
The value of land is excluded from the calculation of the selling price of flats produced under the Home Ownership and Private Sector Participation Schemes in order to keep them affordable by the target groups.
Details of policies and some major new facilities are in Appendix D.
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A.