XN000022-1982-02-24 — Page 18

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WEDNESDAY, FEBRUARY 24, 1982

NEW TOWN DEVELOPMENT

***

THE FINANCIAL SECRETARY, THE HON JOHN BREMRIDGE, ANNOUNCED TODAY (WEDNESDAY) THAT $4 573.9 MILLION WILL BE PROVIDED FROM THE CAPITAL WORKS RESERVE FUND FOR THE CONTINUING DEVELOPMENT

OF THE NEW TOWNS AND RURAL NEW TERRITORIES IN THE COMING FINANCIAL YEAR.

OF THE SUM, $1 249 MILLION WILL BE FOR LAND ACQUISITION.

+WHILE THE MAIN THRUST CONTINUES TO BE IN THE DIRECTION OF LAND PRODUCTION FOR HOUSING, INCREASED EMPHASIS WILL CONTINUE TO BE PLACED ON THE PRODUCTION OF COMMUNITY FACILITIES TO CATER FOR THE NEEDS OF THE GROWING POPULATIONS OF THE NEW TOWNS,+ HE SAID IN PRESENTING HIS BUDGET.

THIS IS IN LINE WITH THE OBJECTIVE OF DEVELOPING THE NEW TOWNS AT TSUEN WAN, SHA TIN, TUEN MUN, TAI PO AND FANLING, YUEN LONG AND JUNK BAY INTO SELF-CONTAINED COMMUNITIES.

THE TOTAL POPULATION OF THESE NEW TOWNS. TOGETHER WITH OTHER RURAL TOWNSHIPS IS EXPECTED TO INCREASE BY 176 000 PEOPLE IN 1982-83 TO 1 432 000, OR 50 PER CENT OF FULL DEVELOPMENT, HE SAID.

LAND PRODUCTION DURING THE SAME PERIOD IS ESTIMATED AT 282 HECTARES. THIS WILL INCREASE THE TOTAL PRODUCTION TO 2 611 HECTARES, REPRESENTING 55 PER CENT OF FULL DEVELOPMENT.

REVENUE TO REACH $39.7 BILLION IN 1982-83 ***

TOTAL REVENUE COLLECTIONS FOR 1982-83 IS EXPECTED TO AMOUNT TO $39.7 BILLION, THE FINANCIAL SECRETARY, THE HON JOHN BREMRIDGE TOLD THE LEGISLATIVE COUNCIL THIS (WEDNESDAY) AFTERNOON.

BUT ON AN ANALYTICALLY ADJUSTED BASIS THE TOTAL WOULD BECOME $39.2 BILLION, COMPRISING RECURRENT REVENUE OF $26.6 BILLION AND CAPITAL REVENUE OF $12.6 BILLION, HE SAID.

+THE ESTIMATE OF RECURRENT REVENUE AT $26.6 BILLION IS AN INCREASE OF $2.2 BILLION, OR NINE PER CENT, ON THE REVISED ESTIMATE OF 1981-82,+ HE SAID.

HE EXPECTED $12.5 BILLION FROM EARNINGS AND PROF ITS TAXES, AN INCREASE OF $1.7 BILLION, OR 16 PER CENT, ON THE REVISED 1981-82 ESTIMATE.

/I AM ASSUMING