C.S. 166
C
CONFIDENTIAL # 2
XCC(77)8
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機密
charges for services are reduced or waived having regard to the means of the household entitled to use those services (the remission of secondary school fees and charges for medical treatment are cases in point). By and large these policies have tended to favour the poor, and overlook the lower-middle income group (There are, according to the preliminary results of the 1976 By-Census, about 361,000 households, representing 36% of the total number of households, earning between $1, 500 and $3,500 a month).
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Second, leaving aside political and social considerations, the financial resources which the Government invested in a flats-for-sale programme would be recovered speedily and re-cycled to create an increasing stock of housing. When demand had been satisfied these re- sources would still be available for use to meet other community needs.
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Given that:
(a) there seems to be a strong aspiration on the part of lower-middle income group towards becoming home
owners;
(b) they are unable to afford open market mortgage
facilities;
(c) it is desirable, in the interest of achieving greater
social and political stability, to assist them,
there are good grounds for the Government to provide flats for sale and to ensure that loan finance was available on terms better than those offered on the open market, which these households can afford.
Criteria of Eligibility for Assistance
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The Working Party then developed criteria of eligibility and their conclusions are set out in Annex C. Briefly the Working Party
recommends:
(a) assistance should be rendered to households, not
individuals;
(b) the flat buyer (also the principal mortgagor) should possess a minimum qualification of five years' residence in Hong Kong;
(c) the household's aggregate monthly income should be
no less than $1,800 - $2,600, depending on its size;
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