XN000022-1976-10-06 — Page 9

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WEDNESDAY, OCTOBER 6, 1976.

HOME OWNERSHIP SCHEME NEEDS BROADENING

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THE HOME OWNERSHIP SCHEME, UNDER WHICH THE GOVERNMENT BUILDS FLATS FOR SALE TO THE PUBLIC, NEEDS BROADENING, THE GOVERNOR, SIR MURRAY MACLEHOSE, SAID TODAY.

SPEAKING AT THE LEGISLATIVE COUNCIL, HE SAID THE ORIGINAL INTENTION WAS TO SELL FLATS ONLY TO PERSONS ALREADY IN HOUSING ESTATES SO AS TO MAKE ROOM IN RENTED ACCOMMODATION FOR OTHERS IN MORE NEED.

HOWEVER, HE ADDED, AFTER CAREFUL THOUGHT HE HAD REACHED THE CONCLUSION THAT PROMOTION OF HOME OWNERSHIP WAS SUCH A DESIRABLE SOCIAL OBJECTIVE IN ITS OWN RIGHT THAT THE SCHEME NEEDED BROADENING.

ACCORDINGLY, A WORKING PARTY ON HOME OWNERSHIP UNDER THE CHAIRMANSHIP OF THE FINANCIAL SECRETARY WAS SET UP AT THE END OF JULY, ITS TASK WAS FIRSTLY TO WORK OUT A PRACTICABLE SCHEME FOR PERSONS WITHIN AND ALSO IMMEDIATELY ABOVE THE INCOME LIMITS OF ELIGIBILITY FOR PUBLIC HOUSING AND SECONDLY TO RECOMMEND HOW AND BY WHOM THE SCHEME SHOULD BE MANAGED.

+ IT WILL NOT BE EASY TO DEVISE MORTGAGE FACILITIES TAILORED TO THE CIRCUMSTANCES OF PEOPLE OF THE INCOME RANGES WE HAVE IN MIND, BUT I AM CONFIDENT IT WILL BE POSSIBLE,+ SIR MURRAY SAID.

THE GOVERNOR EXPRESSED THE HOPE THAT THE ARRANGEMENTS WHICH THE WORKING PARTY WILL DEVISE WOULD BE THE BEGINNING OF A LARGE-SCALE NON-PROF IT-MAKING SCHEME OF HOME OWNERSHIP WITHIN THE PUBLIC SECTOR.

HE DISCLOSED THAT THE FIRST INSTALMENT OF 5,000 FLATS WOULD BE READY FOR SALE IN 1979/80 AND FURTHER INSTALMENTS WOULD THEN FOLLOW EACH YEAR.

SIR MURRAY SAID THAT OUR TARGET WAS SELF-CONTAINED HOUSING IN A DECENT ENVIRONMENT FOR ALL, AND WITHIN THE MEANS OF ALL, BY THE EARLY '80S.

+HOUSING FOR ALL' IS A QUESTION OF QUANTITY, HE SAID. +ONLY WHEN WE ARE ABLE TO PROVIDE NEW HOMES FOR ABOUT 200,000 PEOPLE A YEAR IN THE PUBLIC SECTOR WILL WE BE MAKING THE KIND OF IMPACT WE SET OUT TO DO.+

THE GOVERNOR POINTED OUT THAT IN THIS AND THE NEXT FINANCIAL YEAR HONG KONG WOULD STILL BE UNDER THE INFLUENCE OF RESTRAINTS IMPOSED DURING THE RECESSION.

HE ADDED THAT TAKING ALL GOVERNMENT-FINANCED HOUSING TOGETHER, INCLUDING THAT OF THE HOUSING AUTHORITY AND THE HOUSING SOCIETY, COMPLETIONS IN THESE TWO YEARS WOULD HOUSE ABOUT 97,000 AND 109,000 PERSONS RESPECTIVELY.

+BUT IN 1978/79, THE FIGURES WILL RISE DRAMATICALLY TO 170,000 AND 224,000 IN 1979/80. THEREAFTER FIGURES WELL OVER THE 200,000 MARK WILL BE MAINTAINED, SIR MURRAY SAID.

/+THE BACK