XN000022-1975-09-05 — Page 3

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FRIDAY, SEPTEMBER 5, 1975

MR. BARNES SAID IT WAS HOPED A TENDER COULD BE GAZETTED IN ABOUT MARCH NEXT YEAR AND WORK BEGUN ON THE BRIDGE LATER IN THE YEAR. IT IS ESTIMATED THAT THE BRIDGE AND APPROACH ROADS WOULD TAKE OVER TWO YEARS TO COMPLETE.

THE SECRETARY FOR THE ENVIRONMENT POINTED OUT THAT A PROPOSAL TO BUILD A BRIDGE TO AP LEI CHAU WAS CURRENTLY IN CATEGORY B OF THE PUBLIC WORKS PROGRAMME, BUT IF IT WERE CONSTRUCTED BY THE GOVERNMENT IT COULD BE A LONG TIME BEFORE PRIORITY COULD BE GIVEN FOR THE PROJECT TO PROCEED.

FOR THIS REASON DEVELOPMENT BY THE PRIVATE SECTOR HAS HAD TO BE CONSIDERED TO ENABLE THE DEVELOPMENT OF AP LEI CHAU TO PROCEED MORE QUICKLY, PARTICULARLY THE HOUSING ASPECTS.

NOTE TO EDITORS:

COPIES OF A SKETCH PLAN OF THE AREA ARE BOXED FOR COLLECTION.

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TOTAL DEFICIT OF $224 M. RECORDED

IN FIRST THREE MONTHS OF 1975/76 FINANCIAL YEAR ******

THE HONG KONG GOVERNMENT ACCOUNTS FOR THE MONTH OF JUNE 1975 SHOW A DEFICIT OF $146 MILLION COMPARED WITH A DEFICIT OF $100 MILLION IN JUNE LAST YEAR.

THIS HAS RESULTED IN AN ACCUMULATED DEFICIT OF $224 MILLION FOR THE FIRST QUARTER OF THIS FINANCIAL YEAR. COMPARED WITH A DEFICIT OF $282 MILLION FOR THE SAME PERIOD LAST YEAR.

TOTAL REVENUE FOR THE MONTH AT $330 MILLION WAS $11 MILLION LESS THAN IN JUNE 1974.

TOTAL EXPENDITURE AT $476 MILLION WAS $35 MILLION MORE THAN THE SAME MONTH LAST YEAR.

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