XN000022-1976-03-24 — Page 13

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WEDNESDAY, MARCH 24, 1976

CALL TO INVOLVE PRIVATE DEVELOPERS

IN PUBLIC HOUSING PROGRAMME

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THE HON. JAMES WU TODAY URGED THE GOVERNMENT TO INVOLVE PRIVATE DEVELOPERS IN ITS PUBLIC HOUSING PROGRAMME AND TO START A HOUSING-FOR-SALE SCHEME TO ACCELERATE THE PROVISION OF PUBLIC HOUSING AND TO SAVE PUBLIC FUNDS FOR OTHER SOCIAL SERVICES.

SPEAKING AT THE RESUMED BUDGET DEBATE IN THE LEGISLATIVE COUNCIL, HE SAID IF THE GOVERNMENT WAS TO SPEED UP ITS HOUSING PROGRAMME AND GENERATE INWARD CASH-FLOW IT COULD SELL LAND AT ONE-THIRD ITS MARKET PRICE TO PRIVATE DEVELOPERS WHO WOULD BUILD THE FLATS FOR SALE TO EXISTING TENANTS AND THOSE ELIGIBLE AT A RESTRICTED PROFIT MARGIN.

HE ESTIMATED THE PRICE OF A FLAT BUILT UNDER THIS SCHEME AT ABOUT $100 PER SQ. FT. — A FIGURE WELL WITHIN THE REACH OF MANY ELIGIBLE APPLICANTS WITH THE ASSISTANCE OF HOME MORTGAGES.

THE NEW SCHEME WOULD ALSO ENABLE TENANTS OF EARLIER ESTATES WHO HAVE BECOME MORE AFFLUENT THROUGH YEARS OF DILIGENCE, THRIFT AND SAVINGS IN RENT, TO BUY A NEW FLAT AND VACATE THE OLD ONE FOR A NEW-COMER WHO MIGHT NOT BE ABLE TO AFFORD THE RENT IN A NEW ESTATE, HE SAID.

THESE NEW PUBLIC HOUSES COULD ALSO BE SOLD TO PEOPLE NOT ELIGIBLE UNDER THE PRESENT HOUSING DEPARTMENT REQUIREMENTS IF THEY COULD BE ASKED TO PAY TO THE GOVERNMENT THE BALANCE OF THE FULL LAND VALUE.

+THIS AGAIN ALSO HELPS TO BRING BETTER HOUSING TO WITHIN THE MEANS OF THE DESERVING MIDDLE CLASS, WHO MOST LIKELY HAVE BEEN PAYING DIRECT TAXATION BUT, UP TO THIS MOMENT, DENIED ANY ASSISTANCE FOR HOUSING, AND HAVE TO GO FOR FULL MARKET PRICE IN THE PRIVATE SECTOR WHICH AGAIN HAVE BEEN BUYING LAND AT INFLATED PRICES IN LAND AUCTIONS,+ HE SAID.

ON INDUSTRIAL DEVELOPMENT, MR. WU REITERATED THAT HONG KONG INDUSTRY MUST MOVE UP THE TECHNOLOGICAL SCALE WITH INCREASED AND ACCELERATED VIGOUR.

LIGHT AND HEAVY ENGINEERING INDUSTRIES, HE SAID, MUST BE PROMOTED AND NURTURED BECAUSE BESIDES HAVING TREMENDOUS POTENTIAL BY ITSELF IN ITS MANY BRANCHES, IT WOULD ALSO GIVE STRONG BACK-UP SERVICES TO THE ESTABLISHED AND GROWING INDUSTRIES IN PLASTICS, TOYS AND ELECTRONICS.

WITH PROPER ENCOURAGEMENT AND FACILITATION, HONG KONG COULD CREATE, WITHIN A DECADE OR SO, A SWITZERLAND OF THE ORIENT+ FOR QUALITY PRODUCTS RANGING FROM TEXTILE TO PRECISION MACHINES, HE SAID.

HE FELT THAT THERE WAS ALSO A VERY REAL AND URGENT NEED TO SET UP MORE TECHNOLOGICAL OR ENGINEERING ORIENTED INDUSTRIES TO PROVIDE MORE EMPLOYMENT FOR THE MANY YOUNG PEOPLE NOW BEING TRAINED IN TECHNICAL INSTITUTES, THE POLYTECHNIC AND THE UNIVERSITIES, AND IN PARTICULAR, FOR THE MALE WORK FORCE WHICH AT THE MOMENT WAS OUT-NUMBERED BY THE FEMALE, DUE TO THE DEVELOPMENT OF MAINLY LIGHT INDUSTRIES.

HE EXPILUSAD