C.S. 166
CONFIDENTIAL #2
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XCC(77)8
In the event that Honourable Members advise that the Home Ownership Scheme should proceed, the Secretary for Home Affairs recommends that the Working Party should give a press conference shortly after Budget Day (Friday, 4th March has been suggested), with a view to announcing the Scheme in detail. To this end, the Working Party:
(a) should issue a comprehensive press release;
(b) should emphasise that the Scheme would cater for
that segment of the community which receive re- latively few benefits from the Government, and that the resources set aside for promoting home ownership would not deflect the Housing Authority from continuing to provide more rented housing for low income households; and
(c) should prepare itself adequately for answering a variety of questions on how the Scheme is likely to work.
Advice Sought
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Honourable Members are invited:
(a) to advise on whether the criteria of eligibility as
outlined in Annex C and summarised in paragraph 10, should be accepted;
(b) to advise on whether the proposed restrictions on
re-sale, as outlined in paragraph 13, should be approved;
(c) to advise on whether debt repayments should
generally not exceed 40% of an eligible household's monthly income, as proposed in paragraph 15;
(d) to advise on whether the basic terms of mortgage
facilities to be applied to eligible households, as outlined in paragraph 17, should be accepted;
(e) to note the various proposals made for devising
suitable mortgage facilities as outlined in paragraphs 19 to 33;
(f) to advise on whether legislation establishing a
non-profit-making mortgage bank, as recommended in paragraph 35(a), should be drafted;
CONFIDENTIAL
機密