In his 2012-13 Budget speech at the Legislative Council, Financial Secretary John Tsang said the total value of projects approved by LegCo is expected to increase by three times from HK$62 billion in 2007-08 to HK$184 billion 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 HK$220 billion 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 with a creative mindset, flexible framework and entrepreneurial culture. A proposal is expected to be tabled in the middle of this year.
     Annual actual expenditure on capital works has grown from HK$20.5 billion in 2007-08 to HK$62.3 billion in 2012-13 and is expected to increase to more than HK$70 billion per year in the coming years.