22
WEDNESDAY, MARCH 2, 1994
"I BELIEVE THAT THE SPENDING PROPOSALS I HAVE OUTLINED FOR THE SOCIAL SERVICES THIS AFTERNOON, AND THE PENSION PROPOSALS I HAVE DESCRIBED EARLIER, ARE AMPLE EVIDENCE OF THE GOVERNMENT'S COMMITMENT TO IMPROVING THE COMMUNITY'S QUALITY OF LIFE AND TO BETTER CARE AND SUPPORT FOR THE ELDERLY, THE DISADVANTAGED AND THE DISABLED IN PARTICULAR.
П
SIR HAMISH REASSURED MEMBERS THAT THESE SUBSTANTIAL
INCREASES
IN THE FUNDS DEVOTED TO WELFARE COULD BE ACHIEVED WITHOUT BREACHING THE PUBLIC EXPENDITURE GUIDELINES.
PROPOSALS TO PROVIDE MORE PUBLIC HOUSING
*
THE
HOUSING
THE GOVERNMENT IS FINALISING PROPOSALS TO ENABLE AUTHORITY TO SPEED UP CONSTRUCTION OF NEW ACCOMMODATION AND SUPPORTING INFRASTRUCTURE AND TO IMPROVE THE AUTHORITY EXISTING HOUSING STOCK IN A BID TO PUT THE AUTHORITY'S SURPLUS FUNDS TO THE BEST USE.
THE FINANCIAL SECRETARY, THE HON SIR HAMISH MACLEOD, SAID TODAY
THAT (TUESDAY)
ON THE GOVERNMENT WOULD CONSULT THE AUTHORITY
THESE PROPOSALS AS WELL AS ON THE REVISED FINANCIAL ARRANGMENTS BETWEEN THE GOVERNMENT AND THE AUTHORITY.
HEALTH.
SIR HAMISH SAID THE HOUSING AUTHORITY WAS IN ROBUST FINANCIAL
"OVER THE YEARS, AT A CONSERVATIVE ESTIMATE, THE GOVERNMENT HAS PROVIDED OVER $200 BILLION IN TODAY'S PRICES IN SUPPORT OF THE AUTHORITY AND ITS PROGRAMMES.
"THE
AUTHORITY ESTIMATES THAT AS AT 31 MARCH OF THIS YEAR, IT WILL HAVE A POSITIVE CASH BALANCE OF ABOUT $18 BILLION. THIS FIGURE IS EXPECTED TO RISE TO SOME $29 BILLION BY THE END OF 1997/98. BOTH FIGURES TAKE INTO ACCOUNT THE AUTHORITY'S FUTURE PAYMENTS ΤΟ THE GOVERNMENT UNDER EXISTING ARRANGMENTS.
"IF ACCOUNTS IS ALSO TAKEN OF THE AUTHORITY'S OTHER LIABILITIES, WE ESTIMATE THAT OVER THE NEXT FOUR YEARS THE AUTHORITY IS LIKELY TO HAVE FUNDS AT ITS DISPOSAL OF ABOUT $15 BILLION WHICH ARE NOT REQUIRED TO MEET EXISTING COMMITMENTS UNDER THE LONG-TERM HOUSING STRATEGY.
11
THE FINANCIAL SECRETARY REASSURED LEGISLATIVE COUNCILLORS THAT THE GOVERNMENT INTENDED TO CONTINUE THE RELATIONSHIP BETWEEN THE AUTHORITY AND THE GOVERNMENT AS SET OUT IN THE HOUSING ORDINANCE.
"FURTHERMORE, I REAFFIRM THE PRINCIPLE ADOPTED WHEN WE AGREED THE PRESENT FINANCIAL ARRANGEMENTS IN 1988. THAT IS, THAT NEED AND AFFORDABILITY WILL REMAIN THE GUIDING PRINCIPLES IN THE PROVISION AND CHARGING FOR PUBLIC HOUSING.
OF,
/"RECOGNISING THESE