WEDNESDAY, APRIL 20, 1977
$1,300 MILLION WORTH OF HOUSING CONTRACTS
TO BE LET IN 1977/78
*****
MORE THAN $1,300 MILLION WORTH OF NEW CONTRACTS ON 32 DIFFERENT HOUSING PROJECTS WILL BE LET BY THE HOUSING AUTHORITY
IN THE CURRENT FINANCIAL YEAR, THE ACTING SECRETARY FOR
HOUSING, THE HON. DONALD LIAO, SAID TODAY.
SPEAKING IN THE RESUMED BUDGET DEBATE IN THE LEGISLATIVE COUNCIL, HE SAID THAT THE CONTRACTS TO BE LET WOULD
INCLUDE THE FIVE HOME OWNERSHIP SCHEMES AT SHA TIN AND
KWAI CHUNG IN THE NEW TERRITORIES, HO MAN TIN IN KOWLOON, AND ABERDEEN AND CHAI WAN ON THE ISLAND.
MR. LIAO ASSURED THE COUNCIL THAT THE AUTHORITY WOULD MAINTAIN THE VIGOROUS PURSUIT OF THE LONG-TERM HOUSING PROGRAMME AND EVERY EFFORT WOULD BE MADE TO MEET THIS YEAR'S EXPENDITURE TARGETS.
ON THE HOME OWNERSHIP SCHEME, HE SAID HE WAS GLAD THERE HAD BEEN SUCH A GOOD RECEPTION TO THE IDEA, WITH MUCH FAVOURABLE COMMENT BY THE PUBLIC AND THE MEDIA.
HẸ GAVE AN ASSURANCE THAT FLATS SOLD UNDER THE SCHEME WOULD BE AS ATTRACTIVE AS ANY PRODUCED BY GOOD PRIVATE DEVELOPERS.
ON A SUGGESTION THAT MORTGAGE ARRANGEMENTS MIGHT BE EXTENDED OUTSIDE THE SCHEME SO THAT ELIGIBLE PEOPLE COULD BUY SMALL FLATS IN THE PRIVATE SECTOR, HE SAID SUCH A STEP WOULD APPEAR LOGICAL BUT IT WOULD BE PRUDENT TO ALLOW THE PRESENT ARRANGEMENTS TO STAND FOR A YEAR OR TWO.
+WE MUST LEARN TO WALK BEFORE WE CAN RUN, HE SAID.
ON THE TIME LIMIT SET FOR RESALE OF FLATS, MR. LIAO AGREED THERE WAS ROOM FOR DISAGREEMENT BUT POINTED OUT THAT ANYTHING LONGER THAN THE FIVE-YEAR PERIOD ADVISED BY THE EXECUTIVE COUNCIL COULD WELL MAKE THE SCHEME MUCH LESS ATTRACTIVE TO BUYERS.
SPEAKING ON THE NEW FINANCIAL ARRANGEMENTS BETWEEN THE AUTHORITY AND GOVERNMENT, MR. LIAO SAID THEY WERE DESIGNED PRIMARILY TO STRAIGHTEN OUT THE PREVIOUSLY COMPLICATED ACCOUNTING ARRANGEMENT, TO SHOW CLEARLY GOVERNMENT'S CONTRIBUTION TO THE PUBLIC HOUSING PROGRAMME AND TO SIMPLIFY THE AUTHORITY'S CASH FLOW.
+THESE