1
2
3
4
5
6
7
Cap 8
кафе
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Kap2
25
26
27
Cap 28 сар
Ʌ 29
30
31
32
NP/33
34
35.
36
drain and unsatisfactory medical services for the public.
14
Concerning spending on public housing, the very great
success of Hong Kong public housing construction is clear to all. At present, more than 2.69 million people
and private live in public housing, the percentage of which is about 47. In 1988 and 1989, the Housing Authority will continue to provide 45,000 rental units and the home ownership scheme, together with the ESPS schemes, will provide another 12,160 units for people to purchase.
Therefore, I fully agree with the Financial Secretary who said in the Budget that we have already made a considerable impact on the provisions of housing. Nevertheless, due
and to the demolition of the 26 problematic blocks/the clearance of the Walled City, it creates much demand on public housing. Therefore, I disagree with the Financial
Secretary saying that now the emphasis can increasingly be turned elsewhere, particularly when we have a surplus. exceeding $10 billion and for next year we are going to have $7.3 billion surplus. Now, construction: costs are going up.
Therefore, the Government in the next few years,
should not cut expenditure on public housing.
tha
no
3
Regarding the sandwich class, Sir, in previous Budget de- bates, I emphasised that for the sandwich class who earn a monthly income of $7,000 or more, they have to shoulder heavy tax burdens and they cannot enjoy cheap public housing and the home ownership scheme. I urged the Government to improve the unfair treatment for the sandwich class regarding taxation. I think we should help them to purchase their own home and the mortgage loan should be
in- ledict ante tax-deductible. Unfortunately, my proposals have not been taken heed of by the Government. [This time the Financial Secretary proposes raising tax allowances, reducing the
standard tax rates and to improve the progressive tax
reduce margins as well as the reduction in stamp duty. All these
to raise
reduce
A