Date:
28.11.86
167
Time:
8.30
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12.30
Reporter:
PMS
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SLW:
It is extraordinarily difficult because
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you are asking me a subjective question which I can't answer.
3 know if it was me.
I'd
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CHAIRMAN:
Ho Sai-chu, you have a follow-up question?
MR HO:
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do you think that because of that you have created a precedent case
for other and particularly major redevelopment projects to be exempted from providing GIC?
Yes, may I follow this. Now, Mr Secretary,
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SLW:
I wouldn't accept this as a precedent and
until and unless we change this policy, there won't be more of these.
But certainly, I mean, it is not my interpretation of policy. Clearly I think that other developers may see this as a precedent and hope
16 that they won't have to pay it, but that wouldn't be the interpretation
we'd give it now.
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MR HO:
And it seems to me that one of the main
reasons why you think that it is right for you to decide to allow
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them to that the policy should be departed, is that the development
22 is a very big one. Is that the main reason behind it?
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SLW:
That would certainly, that certainly appears
to be the reason why it was considered to be outwith the policy paper.
26 It represented a major redevelopment of a whole of almost a district
as it were, this redevelopment.
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MR HO:
But judging from the case itself, the cost
in providing that GIC is comparatively very small.
SLW:
That's right.
MR HO:
So it seems to me that it should be the
35 other way round, that if the development is not so big then you might
have to exempt it or ask the Executive Council to get exceptional cost
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