S
THURSDAY, MAY 14, 1992
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THERE WERE DOUBTS EVEN AT THE END OF THE LAST CENTURY ABOUT ANOTHER PROJECT- NATHAN ROAD. PEOPLE THEN ARGUED THAT NO-ONE WOULD EVER TRAVEL ALONG NATHAN ROAD BECAUSE IT LED TO NOWHERE, BUT THE PADDY FIELDS OF YAU MA TEI AND SHAM SHUI PO.
THOMAS'S LATER THE DOUBTING WERE IN BUSINESS AGAIN ON PLANS FOR THE FIRST CROSS-HARBOUR TUNNEL.
THE BUT AS WE NOW KNOW, HONG KONG'S SUCCESS HAS BEEN BUILT ON FOUNDATIONS OF SUCH VISIONARY PROJECTS AS THE MTR, AND THE CROSS HONG HARBOUR TUNNELS. IF WE HAD NOT TURNED SUCH VISIONS INTO REALITY, KONG WOULD NOT BE WHAT IT IS TODAY, NOR WOULD IT BE POISED GROWTH OF THE COMING YEARS.
NOW
FOR THE
NEXT
RAIL
THE
VISION THE
IS A NEW AIRPORT TO TAKE US
THE INTO CENTURY, SERVED BY A RAILWAY, NEW HIGHWAYS AND A THIRD HARBOUR TUNNEL. THESE ROAD AND RAIL FACILITIES WILL PROVIDE THE FAST ROAD AND TRANSPORT NEEDED BY A MODERN AIRPORT OPERATING ROUND-THE-CLOCK. SIGNING OF THE SINO-BRITISH MEMORANDUM OF UNDERSTANDING CLEARLY INCREASED CONFIDENCE, MANIFESTED IN A HIGH LEVEL OF ACTIVITY IN THE STOCK MARKET AND BUSINESS GENERALLY.
HAS ALREADY
THE LIVELIHOOD OF THE 350,000 PEOPLE WHO LIVE IN THE CORRIDOR MOST AFFECTED BY KAI TAK AIRCRAFT NOISE WILL DRAMATICALLY IMPROVE WHEN THE NEW AIRPORT OPENS. KAI TAK ITSELF WILL BE RE-DEVELOPED.
WHICH
BUT THE ACP DOES NOT ONLY PROVIDE US WITH A NEW AIRPORT, WE DESPERATELY NEED BY 1997, AND THE OTHER INFRASTRUCTURE PROJECTS, MANY OF WHICH WE WOULD HAVE TO BUILD ANYWAY IN THE MID-1990S.
1991, RE-EXPORTS,
IT ALSO PROVIDES THE SPRINGBOARD FOR ECONOMIC GROWTH. IN 30 PER CENT OF OUR DOMESTIC EXPORTS, 14 PER CENT OF OUR AND 18 PER CENT OF OUR IMPORTS WERE CARRIED BY AIR. ABOUT 80 PER OF OUR TOURISTS ARRIVE AND DEPART BY AIR
RECEIPTS LAST YEAR TOURISM AMOUNTED. TO NEARLY $40 BILLION.
-
CENT
FROM
THESE STATISTICS ARE FUNDAMENTAL TO OUR ECONOMY, AND WE MUST WITH ENSURE
GROW. THAT THERE IS ROOM FOR THE ECONOMY TO CONTINUE TO THE ACP BUILT, WE SHALL NOT ONLY BENEFIT FROM AN ASSURED ROUTE FOR THE PLACED TO GROWTH OF OUR TOURISM AND EXPORTS. WE SHALL ALSO BE WELL SHARE IN THE GROWTH OF SOUTHERN CHINA.
THE ACP
IN THE
ITSELF WILL THEREFORE MEET CONCERNS IMPLICIT MOTION. AND, AS WE HAVE FREQUENTLY SAID, OUR PROJECTIONS SHOW THAT OUR OF CAPITAL EXPENDITURE ON THE ACP WILL TAKE UP ONLY ABOUT ONE QUARTER OUR TOTAL ESTIMATED CAPITAL EXPENDITURE UP TO 1997.
THE
OTHER THREE-QUARTERS
ON WILL BE SPENT
SCHOOLS, SOCIAL
WELFARE FACILITIES, ENVIRONMENTAL PROTECTION, AND LAW AND ORDER.
REPEATED ON RECURRENT EXPENDITURE, I WOULD LIKE TO REFUTE THE CHARGE THAT WE ARE CUTTING SOCIAL SERVICES ETC. WE ARE NOT, AS I MADE
MY BUDGET SPEECH. IF WE ARE DEALING IN
SPEAKER SUGGESTED, THEN THIS IS
CLEAR IN
MYTHS, AS DEMOLISH.
ONE
THIS
THE
DEBATE WITH MYTH WE MUST
/THE QUALITY