THURSDAY, MARCH 25, 1976
+ IT IS A CONCRETE SIGN OF OUR OWN CONFIDENCE THAT NEXT YEAR MORE THAN 26 PER CENT OF PUBLIC WORKS EXPENDITURE WILL BE ON PROJECTS IN THE NEW TERRITORIES.
+WHAT IS EQUALLY IMPORTANT IS THAT OVER $500 MILLION OF THAT EXPENDITURE IS TO BE DEVOTED TO WORKS IN CONNECTION WITH THE THREE NEW TOWNS, AND THIS FIGURE EXCLUDES ANY EXPENDITURE BY THE HOUSING AUTHORITY. FOR HONG KONG THIS
IS A TREMENDOUS OPPORTUNITY, HE SAID.
MR. WU CONCLUDED HIS SPEECH BY SAYING THAT IT WAS NOT NECESSARILY THE BEST POLICY FOR HONG KONG NOT TO BORROW WHEN
IT WAS IN ITS INTERESTS TO DO SO.
IN FACT, HE SAID, HE WOULD LIKE TO SEE HONG KONG MAKING MORE USE OF ITS CREDIT-WORTHINESS IN WORLD MARKETS.
+ IN THIS WAY, GOVERNMENT COULD PROVIDE GUARANTEES IN
ORDER TO ACCELERATE THE COMPLETION OF PROJECTS THAT ARE WAITING TO BE UPGRADED BECAUSE OF LACK OF READY CASH, HE SAID.
14