Exclusive | HK$5 billion boost expected for waterfront in coming budget address by Hong Kong finance chief Paul Chan
- The 13km extension on both sides of Victoria Harbour amounts to two-thirds of a 21km stretch already opened for public use
- Raft of funding measures also expected in budget for overburdened health care system and education for needy students
Hong Kong’s iconic waterfront will receive a HK$5 billion (US$637 million) funding boost for expansion and revitalisation in Wednesday’s budget address, according to a source involved with the spending blueprint.
Financial Secretary Paul Chan Mo-po is also expected to reveal other measures to raise the morale of health care professionals at breaking point in overcrowded public hospitals, and to offer subsidies for underprivileged students.
Chan was not giving away much on Sunday, but he shared in his official blog a photo of himself with the budget booklet. He said the pale green colour of the cover symbolised Hong Kong as fertile soil that people would have to sow seeds on, irrigate and cultivate to produce a good harvest.
“When the global economy was going well early last year, the colour of the budget plan was more vibrant,” Chan said, referring to the coral cover of the previous booklet. “This year the future is quite uncertain, but I see this as a key stage of risk and opportunities. We have to keep faith and work hard.”
The HK$5 billion facelift planned for the waterfront is expected to be completed in five to 10 years.
“The government attaches great importance to the quality of life for Hong Kong people,” the source said. “We hope to give them more enjoyable and comfortable open spaces.”
