6.
WEDNESDAY, DECEMBER 21, 1977
HE NOTED THAT THE GOVERNMENT CNLY TRIED TO MAINTAIN THE BALANCE BETWEEN CREATING AN ENVIRONMENT OF SECURITY FOR THE TENANTS AND A REASONABLE RETURN FOR LANDLORDS ON THEIR INVESTMENT.
+ON THAT POINT, I WAS RECENTLY INFORMED BY A PROMINENT BANKER THAT, ASSESSED AT CURRENT PRICES AND RENTALS, THE RETURN IS ABOUT SIX PER CENT ON CAPITAL EMPLOYED. THIS CAN HARDLY BE CALLED EXCESSIVE,+ HE ADDED.
MR. SCOTT ALSO POINTED OUT THAT THE BILL PROPOSES AN INCREASE IN CONTROLLED RENTS WHICH WOULD HAVE NO EFFECT ON THE RATEABLE VALUE OF THE PREMISES AND THEREFORE OF ITSELF CANNOT LEAD TO AN INCREASE IN RATES.
HE EXPRESSED GRATITUDE FOR THE +LUCID AND BRIEF+ SUPPORT OF THE BILL BY MR. PETER WONG AND MR. OSWALD CHEUNG.
/7