TNAG-1136-FCO40-1416-Address-by-Sir-Edward-Youde--Governor-of-Hong-Kong--to-the-L-1982 — Page 70

Nevertheless, having regard to the value of new works injected into the programme during 1982-83, and to estimated total expanditure during this year, there should be room for starts to. be made on about 05 billion worth of new projects in 1983-84.

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Annual expenditure on capital works in the Public Works Programme and on public holding projecto hao increased from $6.8 billion in 1980-81,

in 1980-81, to $11.0

to $11.0 billion in 1981-82 and to $13.6 billion in 1932-83. Again, thic rate of increase clearly cannot be sustained, particularly af revenue from land zalog, which has been contributing exceptionally to the financing of the capital account, is unlikely

is unlikely to continuo at the high levels of recent years. The intention, theroforo, io to maintain expenditure in 1983-84 at

at about the level of the ouzzoat your. This should,

however, enable work to proceed as planned on all our projecta and programmes, including housing and our new town programmes in Teuen Wan/Kwai Chung, Tuon Mun, Yuen Long, Sha Tin, Tai Po and Fanling Sha Tin ia being extended to include development at Ma On Shan and preliminary moves have beon made towardo the

eatablishment of the next now towa at Junk Bay.

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We shall need to decide coon how boot to meat demands for urban growth and improvements. in living standarde which population increases and copiɣations will continue to place upon

beyond Cho procent decade. Regional und sub-regional studies are now in hand to identify development options throughout Hong Kong. Wo sia to completo these studies and the formulation of a long term dovolopment strategy within the next twelve months. The choice of a particular strategy involves reconciling the domands of housing, industry, domestic and international transport, environmental factors and, of course, the availability of resourcos. Likewise, the question of replacing Kal Tak with a now international airport.is subject of detailed and on-going consideration within the Government, related as it is to the studies presently in hand.

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