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housing. It is anticipated that this will be reduced to 31% in 1989-90 and by 1992-93, the Housing Authority will not require any Since the Housing Authority is working loans from the Government. towards the aim of 'self-financing', it must 'reduce its reliance on government funds' and raise sufficient funds on its own to construct public housing. Obviously, if the Housing Authority still wants to redevelop old housing estates and construct new ones while part of its financial resources, i.e. government loans, are shrinking to the extent of having none at all, it would have to increase its reliance
rental income from tenants. In on the other financial resource brief, the Housing Authority has to 'explore new resources' in view of diminishing loans which means that it has to collect higher rentals from tenants; alternatively, it has 'to cut down expenses'
То and that is to slow down its construction of public housing. those people with accommodation needs, this is something
regrettable.
It seems that the background reason for publishing the 2 Reports on "Housing Subsidy" and "Domestic Rent Policy" is to allow the Housing Authority to "explore new resources at a quicker pace"
My and to facilitate the Government in shedding its commitments. comments on the 2 Reports are that it is difficult to accept them in principle and that their recommendations are impractical.
The Report on Housing Subsidy is only directed against the 5% or so tenants who have been living in public housing flats for more than 10 years. Its recommendations are, on the one hand, against the aspiration of providing people with a stable home so as to encourage them to create more wealth and to improve their quality of living. On the other hand, there are lots of problems involved in the implementation of these recommendations which apart from wasting a large amount of administrative expenses, also cause Those tenants who do not meet the harassment to the tenants. relevant requirements could easily make use of the loopholes in the
The actual financial gains then would not be as much as that stated in the Report. On the contrary, in terms of integrated cost
law.