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Our tried and tested policy of fostering a highly competent, productive and adaptable labour force in an economy that is undergoing structural changes, and of providing an adequate supply of land for property development to meet the growth in demand, constitute the best safeguard against excessive rises in the cost of doing business. This policy also should continue to enable us to restrain inflation, as well as help preserve the cost competitiveness of our service industry.
End/Wednesday, November 22, 1995
Prices of private residential properties
Following is a question by the Hon Lau Chin-shek and a written reply by the Secretary for Housing, Mr Dominic Wong, in the Legislative Council today (Wednesday):
Question:
Regarding the price of private residential properties, will the Government inform this Council:
(a) of the average rate of increase in private residential property prices in each of the past 3 years, as compared with the respective rates of increase in inflation and the wages of local employees over the corresponding period; and
(b) whether it will introduce additional measures in the near future to further curb property prices?
Answer:
Mr President,
The statistical information requested is given below: