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EDNESDAY, JUNE 7, 1978
ECVERNMENT MCKITORING PROPERTY
AND LAND MARKET DEALINGS
*****
THE GOVERNMENT IS MONITORING THE MARKETS IN BOTH PROPERTY AND LAND AND, IF THIS SHOWS THAT SPECULATION IN LAND IS DAMAGING THE ECONOMY OR SLOWING DOWN THE SUPPLY OF ACCOMMODATION AND THAT THIS IS LIKELY TO CONTINUE, THEN STEPS WOULD BE TAKEN TO COUNTER THE SITUATION, THE HON. DEREK JONES, SECRETARY FOR THE ENVIRONMENT SAID
IN THE LEGISLATIVE COUNCIL MEETING TODAY.
HE WAS REPLYING TO A QUESTION FROM HON. HILTON CHEONG-LEEN ON „HETHER THE GOVERNMENT WILL SHORTEN THE PAYMENT PERIOD FOR PUELIC LAND PURCHASES IN ORDER TO REDUCE THE LEVEL OF SPECULATION ON LAND PRICES.
MR. JONES SAID MR.
CHEONG-LEEN'S QUESTION FOLLOWED VERY CLOSELY A QUESTION ASKED BY THE HON. S.L. CHEN IN THE COUNCIL TWO SITTINGS AGO.
MR. JONES SAID, MR. CHEN'S QUESTION RELATED TO SPECULATION IN PROPERTY DEALINGS WHILE MR. CHEONG-LEEN WAS REFERRING TO SPECULATION IN LAND. THE TWO ARE IN MANY RESPECTS INTER-RELATED, HE ADDED.
HE SAID HIS REPLY IS MERELY ECHOING THE ONE GIVEN BY THE THEN ACTING FINANCIAL SECRETARY ON THIS ISSUE.
MR. JONES SAID IF SUCH COUNTER ACTION PROVED TO BE NECESSARY, MR. CHEONG-LEEN'S SUGGESTION WOULD CERTAINLY BE BORNE IN MIND.
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