XN000022-1990-01-17 — Page 13

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WEDNESDAY, JANUARY 17, 1990

SIR PIERS SAID THAT GENERALLY OFFICERS IN THE MANAGEMENT SERVICES GRADE WERE BASED IN THE FINANCE BRANCH, BUT THERE WERE SPECIALISED UNITS IN SELECTED DEPARTMENTS.

"WE ALSO EMPLOY THE RESOURCES OF THE INFORMATION TECHNOLOGY SERVICES DEPARTMENT, IF WE ARE EXAMINING THE USE OR POSSIBLE USE OF COMPUTERS.

**IF NEED BR, WE ENGAGE OUTSIDE CONSULTANTS TO ASSIST US IN OUR CONTINUING EFFORTS TO IMPROVE ADMINISTRATIVE EFFICIENCY, HE SAID.

"

CONTROLS ON SPECULATIVE ACTIVITIES ON FLATS CLUMSY

+

ON

THE

PRE-COMPLETED

DOMESTIC

ECONOMY, THE

SECRETARY

SAID BARNES,

IN

CONTROLS ON SPECULATIVE ACTIVITIES FLATS WOULD BE CLUMSY AND DISRUPTIVE TO DEVELOPMENT FINANCING AND WOULD PROBABLY DO MORE HARM THAN GOOD TO FOR PLANNING, ENVIRONMENT AND LANDS, THE HON GRAHAM THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

MR BARNES WAS

REPLYING TO A

PROHIBIT

QUESTION

THE FROM

WAI-TUNG ON WHETHER THE GOVERNMENT WOULD CONSIDER TAKING ANY TO CONTROL

EVEN OR

SPECULATIVE ACTIVITIES PRE-COMPLETED DOMESTIC FLATS.

HON LEUNG MEASURES CONCERNING

HE SAID SPECULATION

IN UNCOMPLETED FLATS HAD LONG THE REAL ESTATE INDUSTRY. AS IT' WAS IN MOST

BEEN A OTHER

FEATURE OF COUNTRIES.

IT MARKETS,

TENDS TO "IN TIMES OF SHORT SUPPLIES AND RISING

TAKE THE

FORM CONVENTIONAL

OF

AND RESELLING, BUYING. HOLDING THE HIGHER PRICE;

MARKET PRICE WOULD HOPEFULLY AT A HIGHER STIMULATE ADDITIONAL SUPPLIES.

"

THEN

PRESENT, THERE IS

STIMULATE

A

IN TIMES OF GREATER SUPPLIES, SUCH AS THE SOME EVIDENCE THAT SOME DEVELOPERS USE ARRANGED SALES TO HEATED MARKET FOR THEIR PROPERTIES HE SAID.

IN EITHER CASE THE

ONLY REALLY

EFFECTIVE

SAID MR BARNES MEASURE AGAINST SPECULATION WOULD BE SOME KIND OF BAR ON EARLY RESALE,

OF THIS ALTHOUGH

WOULD DEPEND THE EFFECTIVENESS

ON WHETHER THE INGENUITY OF THOSE INTERESTED WOULD FIND WAYS TO OUTWIT THE SYSTEM.

NOT WANT TO HAVE SUCH "AND ASSUMING THAT YOU WOULD

CONTROLS DISRUPTED, SIGNIFICANTLY IF THE MARKET FOR HOMES WAS NOT BEING

YOU AND OFF," WOULD HAVE TO HAVE CRITERIA FOR SWITCHING YOUR CONTROLS ON HE SAID.

"THIS IS PROBABLY NOT IMPOSSIBLE, BUT CERTAINLY DIFFICULT, BARNES ADDED.

JA

MR

0