Editing Central–Mid-Levels escalator (section)

=== Capital cost ===
The system cost HK$240&nbsp;million (US$31&nbsp;million) to build, although it was originally approved in March 1990 with a budget of $100&nbsp;million and annual maintenance costs of $950,000.<ref>{{cite web|url=http://sunzi1.lib.hku.hk/newspaper/view/16_15.01/68880.pdf|title=Escalator link to Central approved|date=17 March 1990|work=The Standard|accessdate=19 December 2006}}</ref> In November 1996, the [[Director of Audit (Hong Kong)|Director of Audit]] issued a report that called the project a "white elephant", saying that it failed to achieve the primary objective of reducing traffic between the Mid-Levels and Central, as well as over-running its budget by 153 per cent. The Highways Department's poor handling of the project was the main reason for having five cost revisions of the project since the budget had been initially approved. The Director of Audit blamed it for failing to address the risks and complexities associated with the project in the pre-tender estimates, and costs rising because of delays.<ref name="elephant">Yonden Lhatoo, [http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=49217&sid=&con_type=1&d_str=19961106&sear_year=1996 Escalator 'a costly white elephant'] {{Webarchive|url=https://web.archive.org/web/20110522081957/http://www.thestandard.com.hk/news_detail.asp?pp_cat=&art_id=49217&sid=&con_type=1&d_str=19961106&sear_year=1996 |date=22 May 2011 }}, ''The Standard'', 6 November 1996</ref> Land resumption costs were also underestimated by $74&nbsp;million (or 180 per cent). The report also points out that a "before-and-after" study by the [[Transport Department (Hong Kong)|Transport Department]] indicated no obvious reduction in traffic congestion.<ref name="elephant" />