The Government has been urged to use profits from investments in the Land Fund specifically on improving welfare. Provisional legislator Ngan Kam-chuen of the Democratic Alliance for the Betterment of Hong Kong said he would move an amendment on Wednesday to the Government's resolution on the Land Fund seeking to divert the profits. The resolution calls for the creation of a Land Fund which would hold and invest the $170 billion the SAR received at the handover. Under government arrangements, the generated profits should be used again for investment, but Mr Ngan said the money should be used to benefit the whole community. He suggested the sum be kept under recurrent expenditure so that it could be used any time the need arose. However, the newly elected Public Accounts Committee chairman, Eric Li Ka-cheung, said: 'The Government's expenditure is fixed in the Budget. 'I wonder whether the money can be used in the way that Mr Ngan has suggested.' The Land Fund assets, part of the $350 billion financial reserves, is managed by the Hong Kong Monetary Authority under the direction of Financial Secretary Sir Donald Tsang Yam-kuen. The authority's deputy chief executive, Andrew Sheng Len-tao, said the fund would invest according to the principles of the Exchange Fund.