TNAG-2145-FCO40-3064-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 100

1990-10-31 23:26 G.I.S

P.16

19.

The balance transferred to the SAR Government Land

Fund already stands

fiscal year 1989-90

over $17 billion at the end of

Even on fairly conservative

assumptions about futur land sales and interest, the Land

Fund should be well over $70 billion by March 1997 that

Sino British Joint Declaration.

is to say,

more than our existing reserves, Our financial

planning assumes that the Hong Kong Government does not

draw at all on

the Lan Fund under the provisions of the

relevant section of the

Thus, when the SAR Government comes into being,

into being, it should have an airport which will produce revenue, 3 greatly

infrastructure, much of which will also be

revenue-producing, and somewhat larger reserves than We

improved

presently enjoy.

20.

have

We would not have proceeded with this package of projects if we did not believe that doing so was clearly within our financial capacity. I hope the figures 1 just referred to, that i, our reserves, the SAR Government Land Fund together with the potential land sales revenue which you, Sir, have indicated in your Address to be

some

$40 billion at present day prices, will

will demonstrate

strength of our position.

the