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maximise profits. So this is purely from the angle of getting profits. If you want to earn money, you have to host the most popular events. So if you look at Hong Kong at present, what are the things which are money earning? Of course concerts. So when Wembley took over the Stadium, it naturally attached much importance to concerts. That is why in the past two months, we have already had 7 concerts. Originally, the surplus for 1994/95 was $8.83 million as Mr. LAU said. But a few days ago the BOG told the public that in the first two months, the profit was more than $4 million, so it was more than expected. About the self-financing principle dictated to us by the Government, it is a very beautiful term. If there is a profit, the Government wants to get a lion's share because the UC can only retain a small portion. But if there is a deficit, the Government doesn't have any financial liability. It is really unreasonable. If the Government regards the Hong Kong Stadium as a definite money earner, we don't have to accept this self-financing principle because there will be profit anyway. Secondly, if the Government thinks that there is a chance that the Stadium runs into a deficit, then where can the UC get the money to make up for the deficit and how long can we bear this deficit situation? If there is a shortfall all the time, when can we break even and recover the money that we have spent? They have been expended in advance already. We have $4 million as profits, but how about possible future deficits? So at this juncture, we still have to review the operational mode of the Stadium. Should we still stick to the self-financing principle dictated by the Government? As far as the principle of self-financing is concerned, it imposes a lot of restrictions on the management. I believe that when the UC manages a venue, we will not think that the venue will be managed at a loss. The Hong Kong Coliseum gets very good results and we can make ends meet. So for the Hong Kong Stadium, can't we adopt the approach of breaking even rather than achieving self-financing? For self-financing we have to get substantial profits so that the Government can subsidize other sports activities. This should not be our objective in running the Stadium. So in principle, I support Miss Ting's motion. Thank you.
MR. JOSEPH CHAN YUEK-SUT (in Cantonese): Mr. Chairman, in order to be cautious and to have adequate time to look at this problem, according to Standing Order 15(C), may I propose that this motion be referred back to the relevant select committee (i.e. BOG) for detailed consideration so that recommendation can be made to the SCWC for decision? Mr. Chairman, I beg to move.
MR. STEPHEN LAU MAN-LUNG (in Cantonese): Mr. Chairman, I beg to second the motion.
CHAIRMAN (in English): This is tantamount to amending the motion. In this case, the amendment has been proposed and seconded. We will take a vote on this issue before we proceed with the original motion. Would members like to speak before we vote? If not, we will take a vote on this amended motion.
The question on Mr. Joseph CHAN Yuek-sut's motion was put.
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The motion was carried with 11 votes for and 5 abstentions. (The chairman did not vote.)
CHAIRMAN (in English): That concludes the business of today's meeting. Members are reminded that the June meeting of the Council will be held on Thursday, 16 June 1994 at 2:30 p.m. Please note that this is on Thursday because the second Tuesday in June is a public holiday.
ADJOURNMENT - 4:36 p.m.
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