HONG KONG LEGISLATIVE COUNCIL.
FINANCE COMMITTEE REPORT.
57
THE COLONIAL SECRETARY, by command of H.E. The Officer Administering the Government, laid upon the table the report of the Finance Committee No. 8 of July 12th, 1928, and moved that it he adopted.
THE COLONIAL TREASURER seconded, and this was agreed to.
KAI TAK AERODROME,
THE COLONIAL SECRETARY said-Sir, the explanation of the resolution on the agenda paper dealing with the allocation of further funds for the construction of the Kai Tak Aerodrome is best begun by a reference to your own speech in this Council in September, 1927. Hansard of that year, page 69, shows that the total estimated cost of the Aerodrome was then $2,378,000 of which it was expected that the Imperial Government would pay three quarters, that is $1,783,500. The cost to the Colony of Kai Tak under these circumstances would have been $594,500.
The Imperial Government subscription towards Kai Tak has, however, been fixed at £100,00-say $1,000,000 leaving the Colony to find a further $783,500 on this account. Further again, the estimate for the completion of the work and for the necessary resumptions has been increased by a total of $151,250 which, therefore, makes the total is be found by the Colony for Kai Tak $1,529,250. One million from the Authorised Loan of $5,000,000 was set apart for expenditure for Kai Tak and for Harbour dredging, $602,700 being estimated as required Harbour dredging. The total to be expended on Harbour dredging and the formation of Tai Tak is now:-
Harbour dredging
Kai Tak
Total
Provided by Imperial Government
From Loan
still to be found by the Colony.
.$ 602,700
2,529,250
.$3,131,950
1,000,000
$2,131,950
1,000,000
$1,131,950
$500,000 of the Authorised Loan of $5,000,000 was left unallocated, and it is for the transfer of this sum to the Kai Tak account to enable the work to continue that your authority is now requested.
THE COLONIAL SECRETARY then moved the following resolu- tion :-
Whereas by the provisions of section 3 of the Public Works Loan Ordinance, 1927, it is (inter alia) provided that the Governor may direct that any sums which may not be required for a purpose specified in the Schedule may be appropriated and applied to any