XN000022-1972-06-07 — Page 39

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Wednesday, June 7, 1972

"This means that to cover actual costs of these car parks total

revenue would need to be increased by about 42% above current levels.

The new rates I suggested in my Budget Speech would, on the basis of

no change in current usage, increase revenue by rather more than 50%.

But, if there were some deterrence, the increase would be somewhat less.

"The Governor in Council has now made the necessary regulations

to implement the budget proposals and the Road Traffic (Parking and

Waiting) (Amendment) Regulations 1972 provide for the new rates of

charging to come into force from 1st July: monthly tickets are to be

increased from $120 to $200; the full hourly rate is to be increased

from 60 cents to $1 with a minimum charge of $2 instead of $1.50; and the

hourly rate in off peak periods is to be increased from 40 cents to 50 cents,

with the minimum charge remaining at $1.

"As a consequence of these increased charges, charges for open

air car parks are to be increased from $1.50 to $2.50 per half day and the

Road Traffic (Temporary Car Parks) Regulations have been appropriately

amended.

"Now as regards parking meters: as I indicated in the Budget

Speech, there are at present 7,000 metered spaces as compared with 18,000

free on-street parking spaces.

"With the continuing increase in the volume of traffic, the

number of spaces available for parking on street is bound to be reduced

and the policy is gradually to extend meter charging to all those remaining;

and meters may also be installed to regulate parking in some of the more

built up areas in the New Territories.

"In addition,