20
Thursday, March 15, 1973
LAND SHORTAGE IS ROOT CAUSE OF ECONOMIC ILLS
N.T. Should Provide Land H.K. Needs
The Hon. O.V. Cheung said today that the shortage of building land
was the "root cause of most of our economic ille."
Speaking at the annual Budget Debate, he shared the views of other
Unofficial Councillors that such a shortage would lead to a rising coot of
living.
In addition, it would also lead to loss of "our competitiveness in
the international markets for our exports, and to the possible stagnation and
ruin of our economy,
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"If we lose our export trade, there would be Armageddon and the erid
of all our hopes for a better life for our citizens," he said.
Mr. Cheung expressed concern at a statement by the Financial Secretary
that only 15 acres of land would be made available for sale in the next financial
year.
This, he said, would be enough, taking an optimistic view, for no
more than 15,000 persons, or on a more realistic view, 10,000,
Mr. Cheung said; *There is not the slightest doubt that with minor
though important exceptions, only the New Territories can provide the land we
need."
He urged the Government to strengthen the staff of the New Territories
Administration so as to enable the District Commissioner, New Territories, to
perform the massive task which planning, housing schemes and new towns required.
"The whole *******
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