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Wednesday, March 28, 1973
Sir Hugh agreed with the Hon. James Wu that Hong Kong had some of
the highest domestic rents in the world.
But he pointed out that "we should not forget in our public housing
estates in which over 40 per cent of the population live, we have some of
the lowest."
Turning to business premises, Sir Hugh said that on the evidence
available there was no reason to interfere in the situation regarding this
type of buildings.
He said: "It is neither practical nor in our best interest to
protect certain spheres of commercial activity and not others.
"The best regulator in a responsive economy such as ours is the law
of supply and demand."
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