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Wednesday, February 24, 1971
He thought it was true that Hong Kong's present oconomic prosperity and financial strength had led both government departments and subvented
organisations to "think moro largely." Financial restraints did tend to
loosen in such circumstances, and it became more difficult for a Financial
Secretary "to say about any single relatively modest increase in expenditure,
and some not so modest, that wo cannot afford it."
The principal field for the proposed heavier outlay in the next
financial year was exponditure on public works, planned to go up from a
revised figure of $396 million this year to $530 million in the next.
Sir John explained that this was partly due to tho greater incidence
of increased costa as old contracts were completed, and new ones lat, though
the full effect of price increases would not even then be felt. Also, two
major projects the Kai Tak runway extension and the raising of the Plovor
Cove Dam were getting properly into their strido.
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