Is the ACP affordable?
Assuming that
the ACP will be funded exclusively
from the Government's free fiscal reserves, and assuming
that normal revenue yields will be sufficient to meet the
normal expenditure of the
Government, the ACP is
affordable.
belief
The
following
figures demonstrate this
Fiscal reserves at 31.3.91
less
The Set-aside
plus
Government's share of
ACP (minus Airport
Railway and Central/
Wanchai Reclamation
(part)
Balance
(All figures in $ billion
at 1991 prices)
16.0(1)
76.5
53.7
69.7
6.8
Outstanding debt in 1997
3.0(2)
LFC franchise
10.0 (3)
13.0
equals Total cushion
19.8