XN000022-1974-03-27 — Page 19

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Wednesday, March 27, 1974

Estimates of supply this year and in 1975 and 1976 indicate

that sufficient is planned to meet the probable demand although, of course,

in this sector, demand is dependent very much on the state of the economy

generally, he added.

Referring to suggestions by unofficial members for rent controls

in the business sector, Mr. Haddon-Cave said: "My reading of the situation

does not lead me to conclude that there is a need for such contrals at

this time.

"Market forces seem likely to have the effect generally of

containing inflationary trends and, in certain areas, rentals may well take

a downward turn."

He added that the government had long set itself against restricting

rents below market levels "and to provide for statutory security of tenure

without rent control would be a waste of time."

The Financial Secretary was also against setting up a Fair Rente

Tribunal which he argued would only be one facet of the administrative machinery

necessary if measures were taken to control rents of non-residential premises.

Although the word 'fair' was used in the title, Mr. Haddon-Cave

was certain that advocates of such controls were after a restriction of rents

below market levels.

"Determining market rents for non-residential premises would be

difficult enough without trying to decide on fair rents and the legion

of valuers and other experts likely to be needed to administer any such

measures would be quite beyond our resources at the present time, even if

the idea was sound, which it is not," he said.

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