XN000022-1993-03-03 — Page 45

SANDWICH CLASS HOUSING

WEDNESDAY, MARCH 3, 1993

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THE FINANCIAL

SECRETARY PROPOSED TO MAKE A PAYMENT OF $2 BILLION TO THE HOUSING SOCIETY TO SPEED UP THE INTERIM SCHEME TO HELP GENUINE, FIRST-TIME HOME BUYERS IN THE SANDWICH CLASS TO PURCHASE FLATS AT A DISCOUNT. THIS SCHEME WILL BENEFIT UP TO 3,000 FAMILIES IN THE NEXT TWO TO THREE YEARS.

HE SAID IT WOULD BE MADE CLEAR TO THE HOUSING SOCIETY THAT THE PACE AT WHICH THEY PROCEED MUST HAVE REGARD TO TRENDS IN THE PROPERTY MARKET, TO AVOID PUSHING PRICES UP.

IMPROVING MANPOWER SKILLS

ΤΟ HELP THE OPEN LEARNING INSTITUTE (OLI) DEVELOP NEW, SELF- FINANCING COURSES, ESPECIALLY IN CHINESE, THE FINANCIAL SECRETARY PROPOSED TO MAKE A $100 MILLION GRANT FOR OLI TO ESTABLISH A GENERAL DEVELOPMENT FUND.

HE ALSO PROPOSED TO INJECT $50 MILLION INTO THE NEW TECHNOLOGY TRAINING SCHEME TO DOUBLE THE NUMBER OF WORKERS LEARNING NEW SKILLS.

SPORTS AND PERFORMING ARTS

MR MACLEOD PROPOSED A $100 MILLION GRANT TO THE SPORTS DEVELOPMENT BOARD TO HELP FOSTER THE DEVELOPMENT OF SPORTS SCIENCE AND MEDICINE IN GENERAL.

ΤΟ SUPPORT NEW AND DEVELOPING ARTISTIC GROUPS, GRANT OF $30 MILLION TO THE SIR DAVID TRENCH FUND.

HE PROPOSED A

SUPPORT FOR TRADE AND INDUSTRY

MR MACLEOD PROPOSED TO PROVIDE $2.4 BILLION TO BUILD AN EXTENSION TO THE CONVENTION AND EXHIBITION CENTRE.

HE SAID THERE WAS A NEED TO REVIEW AND RATIONALISE THE TRADE DEVELOPMENT COUNCIL'S PUNDING ARRANGEMENTS IN RECOGNITION OF ITS SUCCESS IN GENERATING INCOME.

THIS MAY WELL ENABLE THE GOVERNMENT TO INCREASE THE FUNDS FOR SUPPORTING INDUSTRY, HE SAID.

TRANSPORT INFRASTRUCTURE

THE FINANCIAL SECRETARY HAD DECIDED TO TAKE ADVANTAGE OF THIS YEAR'S SURPLUS TO EASE GROWING PRESSURE ON THE ROAD SYSTEM SERVING THE NORTHWEST NEW TERRITORIES.

/FOR THE