XN000022-1982-02-24 — Page 8

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WEDNESDAY, FEBRUARY 24, 1982

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$11 BILLION FOR PUBLIC WORKS AND LAND ACQUISITIONS

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THE CAPITAL WORKS RESERVE FUND, SET UP THIS JANUARY, WILL HAVE, IF APPROVED, $11 BILLION TO BE SPENT ON PUBLIC WORKS AND LAND ACQUISITION.

THE FINANCIAL SECRETARY, THE HON JOHN BREMRIDGE, CALLED FOR THIS MONEY TO BE TRANSFERRED FROM THE DRAFT EXPENDITURE ESTIMATES.

PUBLIC WORKS WOULD ACCOUNT FOR $6.7 BILLION, AN INCREASE OF $1.6 BILLION OR 32 PER CENT OVER THE 1981-82 REVISED ESTIMATE AND LAND ACQUISITIONS, $1.7 BILLION.

THE SURPLUS FROM THE FUND WOULD BE ABOUT $2.6 BILLION,

MR BREMRIDGE SAID.

HE SAID THE OUTSTANDING COMMITMENT ON PROJECTS IN HAND ON APRIL 1 LAST YEAR WAS NEARLY $23 BILLION AND THAT THIS INCREASED BY OVER $7 BILLION BECAUSE OF NEW PROJECTS DURING 1981-82.

WORK SCHEDULED DURING 1982-83 ON NEW PROJECTS WOULD TOTAL ABOUT $3 BILLION, HE SAID.

+AFTER ALLOWING FOR ESTIMATED EXPENDITURE ON OTHER CONTINUING PROJECTS DURING 1982-83, THE OUTSTANDING COMMITMENT AT APRIL 1, 1983 WILL BE NO LESS THAN $18 BILLION, BUT WILL CERTAINLY BE MUCH HIGHER AS FURTHER NEW WORKS ARE APPROVED DURING THE YEAR,+* HE SAID.

MR BREMRIDGE PROPOSED TO SPEND $6.4 BILLION ON TRANSPORT, ROADS, CIVIL ENGINEERING AND LAND. THIS AMOUNT, HE ADDED, WOULD BE 17 PER CENT OF TOTAL CONSOLIDATED ACCOUNT EXPENDITURE, COMPARED WITH $1 BILLION OR 11 PER CENT IN 1977-78.

ON LAND PRODUCTION, HE SAID THE SPECIAL COMMITTEE ON LAND SUPPLY WOULD PAY PARTICULAR ATTENTION TO IMPROVING THE METHODOLOGY OF LAND PRODUCTION FORECASTS- SETTING TARGETS FOR THE SUPPLY OF LAND FOR ALL USES (OTHER THAN FOR PUBLIC HOUSING WHICH HAS PRIORITY AND FOR WHICH THE SUPPLY IS GEARED TO THE HOUSING AUTHORITY'S REQUIREMENTS), BASED ON DEMAND RATHER THAN PRODUCTION OF NEW LAND ESTIMATES REVIEWING PROGRESS OF PLANS TO PRODUCE MORE LAND IN THE 80S AT MA ON SHAN, AS AN EXTENSION TO SHA TIN NEW TOWN, AND AT JUNK BAY, AND, EXAMINING THE EFFECTS OF TEMPORARY USES OF LAND AND OF SQUATTING UPON THE PROVISION OF LAND FOR DEVELOPMENT.

HE ALSO SAID GROSS LAND PRODUCTION IN 1982-83 WAS EXPECTED TO BE 644 HECTARES, COMPARED WITH 632 HECTARES THIS YEAR (EXCLUDING 27 HECTARES AND 40 HECTARES RESPECTIVELY FOR LAND FORMED BY OR FOR THE INDUTRIAL ESTATES CORPORATION).

THE LAND PRODUCTION FORECAST FOR 1983-84 IS 852 HECTARES- FOR 1984-85, 729 HECTARES AND, 1985-86, 622 HECTARES.

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