XN000022-1983-10-26 — Page 16

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TOBER 26, 1983

CITING THE MONETARY PACKAGE AS A GOOD EXAMPLE OF SUCH INTERVENTION, MR SO POINTED OUT THAT +BESIDES GIVING THE FLAGGING HONG KONG DOLLAR A SHOT IN THE ARM, IT HAS SUCCEEDED IN BRINGING PRICES DOWN. +

+ IT IS MY FIRM CONVICTION THAT BOTH THE COMMERCIAL COMMUNITY AND THE PUBLIC WOULD RESPOND TO THE GOVERNMENT'S SHOW OF FAITH IN OUR DOLLAR, OUR ECONOMY AND THE STRUCTURE OF OUR SOCIETY BY LOWERING COMMODITY PRICES AND REFRAINING FROM EXCESSIVE SPECULATION.

+FURTHERMORE, AS THERE IS A UNITED CALL FROM THE PUBLIC FOR ACTION TO BE TAKEN TO STOP UTILITY CHARGE INCREASES AND PRICE RISES. THE GOVERNMENT SHOULD TAKE THE LEAD AND SET AN EXAMPLE BY NOT ONLY REDUCING COSTS AND IMPROVING PRODUCTIVITY IN THE PUBLIC SECTOR BUT ALSO TEMPORARILY FREEZING ALL CHARGES IN THE PUBLIC SECTOR,+ MR SO SAID.

HE ALSO URGED THE GOVERNMENT TO ENCOURAGE PEOPLE TO REPORT CASES OF HOARDING AND SPECULATION AS WELL AS STAGGERING PRICE INCREASES TO THE CONSUMER COUNCIL OR IN THE READERS' COLUMNS IN NEWSPAPERS.

+THIS CAN BE AN EFFECTIVE WAY TO CHECK PRICE ESCALATION. IT CAN ALSO DEMONSTRATE THAT THE GOVERNMENT'S POLICIES AND ACTIONS ARE GOVERNED BY THE CONCERN AND ASPIRATIONS OF THE PEOPLE OF HONG KONG, HE SAID.

HU CALLS FOR FRESH LOOK AT HOUSING POLICY

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A FRESH LOOK SHOULD BE TAKEN AT LONG-TERM PUBLIC HOUSING POLICY IN ALL RESPECTS, INCLUDING ESTABLISHMENT OF A REALISTIC RATIO BETWEEN RENTAL HOUSING AND HOME OWNERSHIP, THE HON F.K. HU SAID IN THE LEGISLATIVE COUNCIL TODAY.

+THIS RATIO SHOULD BE UNDER CONSTANT REVIEW WITH THE EMPHASIS ON MAKING AVAILABLE HOME OWNERSHIP SCHEMES TO THOSE WHO REQUIRE THEM AND AT THE SAME TIME ARE ABLE TO AFFORD THEM, HE SAID.

HE EXPRESSED THE HOPE THAT OVER TIME PUBLIC HOUSING WOULD BE MADE AVAILABLE TO TWO-MEMBER FAMILIES, GROUPS OF SINGLETONS AND EVENTAULLY SINGLE PERSONS INDIVIDUALLY.

+FOR OUR HOUSING PROGRAMME TO SUCCEED, WE SHOULD EVENTUALLY REDUCE THE ELEMENT OF SUBSIDY FROM PUBLIC FUNDS AND GENERATE SUFFICIENT SURPLUS TO FINANCE FUTURE RE-DEVELOPMENT AND IMPROVEMENT SCHEMES IN ALL CATEGORIES OF PUBLIC HOUSING,+ HE SAID.

HE SUGGESTED THAT SUBJECT TO REVIEW OF LONG-TERM HOUSING POLICY. THE GOVERNMENT SHOULD GIVE AN INDICATION ON WHAT LONG-TERM PLANS IT HAD TOWARDS THE TOTAL RE-DEVELOPMENT OF THE REMAINING MARK AND I ESTATES, AND ON THE IMPROVEMENT WORKS THAT WERE CONSIDERED NECESSARY FOR OTHER OLD ESTATES.

/+AT THE