XN000022-1972-05-10 — Page 9

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Wednesday, May 10, 1972

HON. G.M.B. SALMON CRITICISES CROWN RENTS POLICY

Inflation Should Be Contained, Not Aggravated

The Hon. G.M.B. Salmon today described the present Crown rent

policy as a "policy of inflation" and suggested the Government must

contribute towards containing rather than aggravating inflation.

He was speaking in the Legislative Council in support of a motion

by the Hon. Oswald Cheung that the Council would welcome a thorough

review by the Government of its present policy of assessing Crown rents on

renewable Crown leases.

"If Government's Crown rent policy was to scak only the rich, it

might have some support in certain quarters," he said.

But this is not the policy, he said. It is one to hit not only

the big industrialist and the big property owner, but also the small factory

the small flat owner as well as tenants of affected properties whose

owner,

rents will go up.

Mr. Salmon said "I am, and we must all be, very concerned if

manufacturers' essential contribution to our well-being is threatened."

He said every one who was concerned agreed that a major modification

of Government policy was needed.

As far as he knew, he said, it had not yet been disclosed what

the anticipated extra revenue from Crown rents in 1973 and over the next

few years would be under the existing policy and he saw no reason why

this information should be withheld from the public.

₪

/He continued: