WEDNESDAY, MARCH 25, 1981
13
LAND SUBSIDIES FOR HOME OWNERSHIP
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THE HON LYDIA DUNN CRITICISED THE GOVERNMENT FOR INSISTING ON CHARGING FULL MARKET VALUE FOR LAND FOR THE HOME OWNERSHIP SCHEMES IN THE RESUMED BUDGET DEBATE IN THE LEGISLATIVE COUNCIL TODAY.
THE GOVERNMENT, SHE SAID, IS MAKING AVAILABLE VIRTUALLY +FREE+ LAND TO PUBLIC HOUSING WHILE IT IS SELLING LAND AT FULL MARKET VALUE FOR PRIVATE RESIDENTIAL DEVELOPMENT, INCLUDING THE HOME OWNERSHIP AND PRIVATE SECTOR PARTICIPATION SCHEMES.
THAT THE POOR SHOULD BE HOUSED AT A SUBSIDY AND THE RICH SHOULD PAY THE FULL MARKET VALUE IS INDISPUTABLE. BUT, SHE ADDED, BETWEEN THESE TWO EXTREMES IS A GROWING NUMBER OF WOULD-BE HOME OWNERS IN THE MIDDLE INCOME RANGE WHO ARE EXCLUDED FROM PUBLIC RENTED HOUSING BECAUSE THE IR INCOMES ARE IN EXCESS OF THE LIMITS C ELIGIBILITY, AND YET PRIVATE SECTOR ACCOMMODATION IS BEYOND THE IR REACH.
+ IF THE OBJECT OF THE HOME OWNERSHIP SCHEME AND THE PRIVATE SECTOR PARTICIPATION SCHEME IS TO MEET THE HOUSING NEEDS OF THE LOWER MIDDLE INCOME GROUP, THERE IS A STRONG CASE FOR AN ESSENTIAL DEGREE OF LAND SUBSIDY WITH, OF COURSE, APPROPRIATE SAFEGUARDS.
+FURTHERMORE, A LAND SUBSIDY BUILT INTO HOME OWNERSHIP SCHEMES WOULD BE A ONCE-FOR-ALL SUBSIDY WHICH MAY BE CONTRASTED WITH THE RECURRENT NATURE OF THE SUBSIDY MADE SO READILY AVAILABLE FOR THOSE OCCUPYING RENTED HOUSING AUTHORITY FLATS, SHE SAID.
THE HOME OWNERSHIP SCHEME WORKING PARTY SHOULD BE INSTRUCTED TO RECONS IDER THE QUESTION OF LAND PRICES.
MISS DUNN ALSO EXPRESSED MISGIVINGS THAT THE SUGGESTION FOR THE PRIVATE SECTOR TO PLAY A GREATER ROLE IN LAND PRODUCTION HAS ALWAYS BEEN MET WITH PASSIVE RESISTANCE BY THE GOVERNMENT, THOUGH WITH NO CONVINCING EXPLANATION.
+ I BELIEVE THAT ITS POTENTIAL ROLE IN THE PRODUCTION OF LAND SHOULD BE EXAMINED IN A MORE POSITIVE SPIRIT.
+ I CAN SEE NO REASON WHY PRIVATE DEVELOPERS SHOULD NOT BE OFFERED UNFORMED LAND IN SUITABLE LOCATIONS, THE GOVERNMENT HAVING FIRST DETERMINED THE BASIC PLANNING CRITERIA FOR DEVELOPMENT, INCLUDING ROADS AND OTHER INFRASTRUCTURAL FACILITIES.
+THE PRIVATE SECTOR HAS THE EXPERIENCE, THE MOTIVATION AND ACCESS TO THE FINANCE TO PRODUCE RESULTS.+
ON REDEVELOPMENT OF OLD URBAN AREAS, MISS DUNN THOUGHT THE ROLE OF THE PRIVATE SECTOR IS ALSO UNDERSTATED.
SHE SUSPECTED THAT THE WAY IN WHICH MODIFICATION PREMIA APE CALCULATED DISCOURAGES RATHER THAN ENCOURAGES THE REDEVELOPMENT OF OLD PROPERTIES IN PRIVATE HANDS.
SHE SOUGHT AN ASSURANCE FROM THE GOVERNMENT THAT TH13 15 NOT SO AND TO REVIEW THE METHOD OF CALCULATION IF THERE IS EVIDENCE TO THE CONTRARY. +
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