LEGISLATORS fear tolls on Route 3, the six-lane highway connecting Au Tau to Ting Kau Bridge, will rise as the Government shifts revenue from the top-up fund to general revenue.
Under the proposed franchise, when the Financial Secretary considers there is enough money in the toll stability fund to avoid the need for future toll rises, the excess can go into the general revenue.
The stability fund will be financed by the difference between actual net revenue and expected revenue, based on an internal rate of return of 17.08 per cent.
At yesterday's Legislative Council Bills Committee studying the proposed franchise, the Liberal Party Lau Wah-sum said the Government should return the money to the stability fund if the franchisee asked for a toll increase, because of, for instance, a fall in traffic.
Deputy Secretary for Transport Arthur Ng Sek-hon said the Financial Secretary would only move funds into general revenue when he was satisfied the stabilisation fund was adequate, adding he would notify Legco before making any transfer.