Annual actual expenditure on capital works has grown from HK$20.5bn in 2007-08 to $62.3bn in 2012-13 and is expected to increase to more than $70bn per year in the coming years.
In his 2012-13 budget speech at the Legislative Council (LegCo), Tsang said the total value of projects approved is expected to increase by three times from HK$62bn in 2007-08 to HK$184bn this year.
The government will seek funding approval for the construction of the Sha Tin to Central Link from LegCo in the current legislative session.
District works projects approved by LegCo in the five legislative sessions from 2007-08 are estimated at $220bn in total.
The Development Bureau is exploring with the Harbourfront Commission the establishment of a statutory and dedicated harbourfront authority, he said, which will push ahead with the design, construction, operation and management of harbourfront projects. A proposal is expected to be tabled in the middle of this year.
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