XN000022-1994-03-02 — Page 26

WEDNESDAY, MARCH 2, 1994

14

AIRPORT AND PORT DEVELOPMENT VITAL FOR GROWTH

* * *

THE ECONOMIC BENEFITS OF THE NEW AIRPORT CAN BEST BE LOOKING AT WHAT HONG KONG WOULD STAND TO LOSE IF IT DID THE NEW AIRPORT IN 1997.

BY

DESCRIBED

NOT HAVE

HAMISH

THIS WAS STATED BY THE FINANCIAL SECRETARY, THE HON SIR MACLEOD, WHEN DELIVERING HIS 1994/95 BUDGET IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

LOSSES

YEAR WOULD BE $3 BILLION IN THE FIRST ECONOMIC

$6

A MASSIVE BILLION IN THE FOLLOWING YEAR AND 1997, ANOTHER BILLION THE YEAR AFTER THAT, HE SAID.

AFTER

$10

PORT

"IT IS

AIRPORT AND VITAL THAT WE FORGE AHEAD WITH OUR DEVELOPMENT, IF HONG KONG'S GROWTH IS TO BE SUSTAINED BEYOND 1997, AND WITH IT THE GROWTH OF SOUTHERN CHINA," SIR HAMISH SAID.

TRAFFIC ANTICIPATED.

HE SAID

WERE

FASTER THAN

AND LATEST INDICATIONS WERE THAT BOTH AIR INCREASING

CONTAINER

PREVIOUS

FORECASTS

HAD

IS

PAINFULLY

AN

AIRPORT

WORKING

"IT

CLEAR THAT KAI TAK IS REYOND ITS CAPACITY, DESPITE THE CONSIDERABLE IMPROVEMENTS BEING MADE.

SO PEOPLE EVEN IF YOU NEVER TRAVEL, BUT ARE ONE OF THE 300,000 OR LIVING NEARBY, KAI TAK IS BECOMING A MORE AND MORE NOISY NEIGHBOUR LIVE WITH, HE SAID.

**

ΤΟ

"WE SHALL DO ALL WE REASONABLY CAN IN DIALOGUE WITH THE CHINESE THE GOVERNMENT TO ENSURE THAT THE EXPANSION OF THE CONTAINER PORT AND FINANCING OF THE AIRPORT CORE PROGRAMME CAN PROCEED AS SWIFTLY AS WOULD ALL WISH.

WE

IT

IS

FINANCIAL

BECAUSE

OF

THESE

ECONOMIC

BENEFITS,

THE

GOOD

KONG

THE

AND POSITION HONG KONG NOW FINDS ITSELF IN, THAT THE HONG GOVERNMENT HAS MADE

ADDRESS TO THE FOURTH FINANCING PROPOSAL CHINESE GOVERNMENT'S CONCERNS, HE EXPLAINED.

LAND LINKS MUST BE IMPROVED

* * * * *

THE GOVERNMENT MUST INVEST HEAVILY IN ROAD AND RAIL LINKS IN IMPROVEMENTS WHICH SERVE HONG KONG'S TRADE, TOURISM AND INVESTMENT CHINA, AS WELL AS THE EVERYDAY NEEDS OF THE POPULATION,

SAID IN

THAT

THE FINANCIAL SECRETARY, THE HON SIR HAMISH MACLEOD, HIS 1994/95 BUDGET IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) MUCH WORK WAS ALREADY IN HAND.

* IN

SEPTEMBER THIS YEAR, THE YUEN LONG SOUTHERN BYPASS COMPLETED BE

AT A COST OF $400 MILLION. THIS WILL MORE RELIEF TO THE WESTERN NFW TERRITORIES.

WILL

BRING

IN AUGUST,