XN000022-1984-02-29 — Page 16

WEDNESDAY, FEBRUARY 29, 1984.

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INCREASED FOUR-YEAR HOUSING PLAN FORECAST

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THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, TODAY (WEDNESDAY) PREDICTED HOUSING AUTHORITY PRODUCTION FROM 1984-85 TO 1987-88 TO EXCEED PRODUCTION IN THE PREVIOUS FOUR YEARS BY 6.5 PER CENT.

PRESENTING HIS BUDGET PROPOSALS AT THE LEGISLATIVE COUNCIL, HE SAID THAT OF THE TOTAL CONSOLIDATED ACCOUNT EXPENDITURE ON HOUSING IN 1984-85, $3.7 BILLION WOULD BE SPENT ON THE ACTUAL CONSTRUCTION OF HOUSING, INCLUDING TEMPORARY HOUSING AREAS, AGAINST A REVISED ESTIMATE OF $3.5 BILLION IN FISCAL 1983.

THE GOVERNMENT'S POLICY, HE SAID, WAS THAT THE PUBLIC HOUSING PROGRAMME SHOULD ACHIEVE A LEVEL OF PRODUCTION OF AT LEAST 35 000 FLATS A YEAR FOR BOTH RENTAL AND SALE BY THE HOUSING AUTHORITY, WITH A SUBSTANTIAL ADDITION BY THE HOUSING SOCIETY THROUGH THE DEVELOPMENT OF RENTAL HOUSING AND THE URBAN IMPROVEMENT SCHEME, AND BY THE PRIVATE SECTOR PARTICIPATION SCHEME.

SIR JOHN SAID TOTAL PRODUCTION IN THE NEXT FOUR YEARS INCLUDING HOUSING SOCIETY FLATS AND PRIVATE SECTOR PARTICIPATION SCHEME FLATS WAS ESTIMATED AT 176 000 FLATS, WITH AN AVERAGE COMPLETION RATE OF 44 300 A YEAR: 39 082 IN 1984-85, 46 047 IN 1985-86, 44 872 IN 1986-87 AND 46 780 IN 1987-88.

+THIS WILL HAVE A MAJOR IMPACT ON MANY NOW WAITING PATIENTLY FOR DECENT HOUSING. IN THE NEXT FOUR YEARS WE SHALL BE PROVIDING NEW, HIGH CLASS SUBSIDISED HOUSING FOR OVER 700 000 PEOPLE. WE SHOULD ALL BE PROUD OF THIS PROGRAMME, HE SAID.

SIR JOHN SAID 41 623 HOME OWNERSHIP SCHEME FLATS OUT OF 47 010 IN THE FIRST FIVE PHASES WOULD HAVE BEEN COMPLETED BY THE END OF FISCAL 1984, AND WORK WAS IN HAND ON THE BALANCE AS WELL AS 13 610 FLATS IN PHASES VI, VII AND VII.

HE ADDED THAT FOLLOWING A REVIEW IN MARCH 1983, THE GOVERNMENT DECIDED THAT THE MIDDLE INCOME HOUSING PROGRAMME SHOULD BE STOPPED AS A RESULT OF THE DECLINE IN PROPERTY PRICES.

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