XN000022-1976-10-13 — Page 21

HONG KONG HOUSING AUTHORITY ABRO

PRESS RELEASE

新聞稿

Wednesday, 13th October 1976

DEFICIT ON FORMER RESETTLEMENT ESTATES

$80 MILLION A YEAR

HOUSING AUTHORITY REPORT REVEALS

The deficit on former Resettlement Estates was running at

more than $80 million a year, states the Chairman of the Housing Authority,

Mr. I.M. Lightbody, in the Authority's Annual Report for 1975/76 which has

just been released.

"Clearly, we can never hope to reach our housing targets if new

estates require to be subsidised to cover running costs and, so, the

Authority is bound to fix rents at a realistic level and to review rents

in accordance with the pace of inflation," Mr. Lightbody states.

This might mean that some poorer families would not be able

to afford flats in new estates; for them, units would have to be recovered

in the older, low rent estates. "In any event, they can seek help from

the Public Assistance scheme to meet their rent payments.

This is a

practicable arrangement and recognises the realities of the situation."

Mr. Lightbody says restraints are imposed on the Authority by

its heavy capital expenditure programme.