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THURSDAY, MARCH 25, 1976
HOME OWNERSHIP SCHEME WELCOMED
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DR. THE HON. HARRY FANG TODAY WELCOMED THE PROPOSALS OUTLINED IN THE FINANCIAL SECRETARY'S BUDGET SPEECH FOR THE PROMOTION OF HOME OWNERSHIP, STRESSING THAT THE SCHEME HAS FAR REACHING SOCIAL IMPLICATIONS AND MUST BE IMPLEMENTED WITHOUT DELAY.
HE BELIEVED THAT THE SCHEME, IF LAUNCHED ON A SUFFICIENTLY LARGE SCALE AND WITH THE ACTIVE SUPPORT OF PRIVATE ENTERPRISE, WOULD PROVIDE THE SOLUTION TO HONG KONG'S HOUSING PROBLEM.
SPEAKING IN THE RESUMED BUDGET DEBATE IN THE LEGISLATIVE COUNCIL, DR. FANG WAS DOUBTFUL THAT MUCH MORE THAN 40 PER CENT OF THE POPULATION, OR 1.8 MILLION PEOPLE, WERE REALLY IN NEED OF PUBLIC HOUSING AT SUBSIDIZED RENTALS.
+MANY WHO ARE PRESENTLY OCCUPYING PUBLIC HOUSING MUST HAVE PROSPERED OVER THE YEARS TO SUCH AN EXTENT THAT THEY WOULD NO LONGER QUALIFY FOR SUBSIDIZED HOUSING IF ASSESSED ON CURRENT INCOME LIMITS, HE SAID.
+THE GOVERNMENT RESPONSIBILITY THEREFORE LIES IN ENSURING THAT SUFFICIENT QUANTITIES OF LOW AND MEDIUM PRICED FLATS ARE AVAILABLE ON THE MARKET AND THAT LOAN FINANCING IS PROVIDED WITHIN THE REACH OF BLUE AND WHITE COLLAR WORKERS.
+THUS ALL THOSE WISH TO PURCHASE THE IR FLATS CAN BE GIVEN THE MEANS TO DO SO, INCLUDING THOSE WHO ARE ALREADY ACCOMMODATED IN PUBLIC HOUSING, THOSE WHO ARE STILL ON THE WAITING LIST, AND THOSE CIVIL SERVANTS WHOSE INCOME RENDERS THEM NEITHER ELIGIBLE FOR PUBLIC HOUSING NOR FOR A HOUSING ALLOWANCE.+
DR. FANG POINTED OUT THAT THE SUCCESS OF THE HOME-OWNERSHIP SCHEME DEPENDED TO A VERY LARGE EXTENT ON ACTIVE PARTICIPATION BY PRIVATE ENTERPRISE.
THEREFORE, HE ADDED, THE GOVERNMENT MUST BE PREPARED TO MAKE LAND AVAILABLE AT CONCESSIONARY PRICES WITH BUILDING RESTRICTIONS AND TO AGREE TO GUARANTEE LOAN FINANCING FOR PROSPECTIVE HOME- MAKERS OVER A PERIOD OF 15 TO 20 YEARS.
ANOTHER ALTERNATIVE WAS THAT THE GOVERNMENT COULD TAKE OUT AN OPTION TO DISPOSE OF A NUMBER OF UNITS IN APPROVED PRIVATE HOUSING SCHEMES.
IN SUCH CIRCUMSTANCES, HE SAID, PRIVATE DEVELOPERS MIGHT WELL CONSIDER OFFERING THE GOVERNMENT A VOLUME DISCOUNT WHICH WOULD DIRECTLY BENEFIT BUYERS,
TURNING TO THE STAFF PROBLEMS IN KWONG WAH HOSPITAL AND THE RECENT RESIGNATION OF A NUMBER OF SENIOR MEDICAL STAFF AT QUEEN ELIZABETH HOSPITAL, DR. FANG SAID, THE SITUATION IS GRAVE AND CALLS FOR CONCERTED GOVERNMENT ACTION.
/+IF THIS