XN000022-1973-03-15 — Page 9

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Thursday, March 15, 1973

CALL FOR WIDER RENT CONTROL SCHEME

To Protect All Premises From Unreasonable Rent Increases

The Hon. R.H. Lobo today called for a comprehensive rent control

system to protect all premises, whether old or new, from exorbitant rent increases.

Speaking at the resumed Budget debate, he suggested that there should

be one control system along the lines of the Rent Increases (Domestic Premises)

Control Ordinance for premises in all rental brackets.

While the Government was endeavouring to provide better accommodation

and build more homes, he said, "this current unchecked rent increase is creating

a new type of hardpressed and frustrated residents."

Through force of circumstances, he added, these people had to lower

their standards of living by paying almost 50 per cent of their earnings on

rent instead of improving their quality of life.

He suggested that the new legislation should provide for rent control

over a period of several years ahead.

"The landlord should not be able to charge his tenant any increase

of more than five per cent to eight per cent per annum," he said.

"The tenant would have the protection of a statutory lease which would

safeguard him from having to pay his landlord an exorbitant rent if he chooses

to remain where he is,'

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At the same time, said Mr. Lobo, the landlord would receive a fair

return on his investment, despite the fact that the residual value of the property

would also increase.

/Mr. Lobo ...............