XN000022-1973-12-12 — Page 14

13

Wednesday, December 12, 1973

The loan scheme, he felt, would be of great benefit to both the

real estate market and those civil servants who were neither entitled to

allocation in public housing nor were given government accommodation or

housing allowances.

Mr. Cheong-Leen made the remarks when speaking in support of the

Landlord and Tenant (Consolidation) (Amendment) (No. 2) Bill.

The bill itself, he said, was "a genuine attempt to stabilise domestic

rentals, provide security of tenure, keep down inflation, and yet not to

greatly inhibit private enterprise from investing in new building projects

to provide even more domestic accommodation."

The lion. Wilfred Wong also spoke in support of the bill which, he

said, would serve to continue to provide security of tenure during the

life of the legislation, permitting the landlord to regain possession under

certain circumstances,

It would rationalise the rent increases as the sharp rise in the

rental level of new lettings justified such legislation, and it would also

encourage now building by not limiting rents for them, he said.

Referring to suggestions that high class flats should be exempt from

control, Mr. Wong said that to take this step would be to ignore the relativity

of high class flats with medium class flats "and make it harder for the higher

income executivos and owners of large families to live."

On the whole, he said, there would only be a few cases which would

exceed the 21 per cent increase since rents for high class flats had been

free from control for more than 10 years.

/As regards

1