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WEDNESDAY, MARCH 3, 1993
FOR THE SHORT TERM, HE PROPOSED THAT IMPROVEMENT TO THE TURN MUN HIGHWAY SHOULD NOW BE FUNDED AND BEGIN THIS YEAR. THIS WILL INVOLVE CONSTRUCTION OF NEW "CLIMBING LANES" FOR SLOW-MOVING TRAFFIC AT A COST OF $1 BILLION.
FOR THE MEDIUM TERM, A NEW ROAD TO THE BORDER WAS ESSENTIAL. THE FIRST PRIORITY WAS ROUTE 3 FROM TSING YI TO AU TAU BY WAY OF A NEW BRIDGE AT TING KAU, AND A TUNNEL UNDER THE COUNTRY PARK, HE PROPOSED TO EARMARK $4 BILLION AS THE GOVERNMENT'S POTENTIAL CONTRIBUTION, WHILST WAYS WERE BEING EXAMINED ON HOW BEST TO ADVANCE THIS PROJECT, IN PARTNERSHIP WITH THE PRIVATE SECTOR.
TOURISM
MR MACLEOD PROPOSED TO MAKE A CAPITAL GRANT OF $200-$300 MILLION ΤΟ THE HONG KONG TOURIST ASSOCIATION TO PURCHASE THEIR OWN PREMISES, SO THAT MONEY NOW SPENT ON OFFICE RENT COULD BE USED ΤΟ BOOST PROMOTION OF HONG KONG'S TOURIST INDUSTRY.
A TOURISM RANKED AS ONE OF HONG KONG'S MAJOR INDUSTRIES, WITH ESTIMATED RECEIPTS OF $48 BILLION LAST YEAR. HE RECOMMENDED A SUBVENTION OF $337 MILLION TO THE HKTA IN THE COMING FINANCIAL YEAR.
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1993 EXPENDITURE IN PERSPECTIVE
THE PACKAGE OF NEW EXPENDITURE INITIATIVES, TOGETHER WITH THE SUBSTANTIAL INCREASES IN RECURRENT FUNDING FOR SOCIAL WELFARE, HEALTH AND EDUCATION ANNOUNCED BY THE GOVERNOR LAST OCTOBER, REPRESENTS A MAJOR FINANCIAL COMMITMENT, THE FINANCIAL SECRETARY, THE HON HAMISH MACLEOD SAID.
"THAT I AM ABLE TO EMBARK UPON SUCH A PROGRAMME WITHIN MY BUDGETARY GUIDELINES IS ONE OF THE REWARDS OF HONG KONG'S ECONOMIC SUCCESS. HE SAID.
MR MACLEOD POINTED OUT THAT THE DRAFT ESTIMATES PROVIDE FOR REAL INCREASES IN RECURRENT EXPENDITURE ON SOCIAL WELFARE, HEALTH AND EDUCATION OF MORE THAN 7%.
"I EMPHASISE THAT THESE ARE REAL INCREASES, AFTER ALLOWING FOR INFLATION," HE ADDED.
ΤΟ GOVERNMENT
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PUBLIC EXPENDITURE WHICH, IN ADDITION EXPENDITURE, INCLUDES THE SPENDING OF THE TWO MUNICIPAL COUNCILS THE HOUSING AUTHORITY AND THE LOTTERIES FUND, WILL AMOUNT TO $156.6 BILLION IN 1993/94. THIS REPRESENTS 18.5% OF GDP. PRESENT FORECASTS INDICATE THAT THE PROPORTION WILL REMAIN BELOW 20% IN THE PERIOD TO 1996/97.
"LAST YEAR,