XN000022-1990-06-26 — Page 18

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TUESDAY, JUNE 26, 1990

LONG-TERM BY REDUCING

추가 IT WILL HELP ACHIEVE ECONOMIES IN THE THE EXPENDITURE ON THE PROVISION OF NON-DEPARTMETAL QUARTERS (NDQ) AND PRIVATE TENANCY ALLOWANCE (PTA), AS WELL AS FREEING EXISTING QUARTERS SITES FOR DISPOSAL AND/OR REDEVELOPMENT," HE SAID.

DEPENDING ON A NUMBER OF FACTORS SUCH AS THE TAKE-UP RATE OF THE NEW HOME FINANCING SCHEME, MOVEMENTS OF PROPERTY PRICES AND MORTGAGE INTEREST RATES, SAVINGS IN THE REGION OF $3 BILLION MAY WELL BE ACHIEVED OVER A 20-YEAR PERIOD CALCULATED AT PRESENT VALUE. BUT IT IS DIFFICULT TO PUT AN ACCURATE FIGURE ON THIS AS MANY UNKNOWNS ARE INVOLVED, THE SPOKESMAN SAID.

THE SPOKESMAN ADDED THAT NEW HOUSING PACKAGE MAINLY COMPRISED IMPROVEMENTS TO THE EXISTING HOME PURCHASE SCHEME (HPS), A NEW HOME FINANCING SCHEME (HFS) AND A NEW ACCOMMODATION ALLOWANCE.

"THE EXISTING HOME PURCHASE SCHEME FOR OFFICERS ON MASTER PAY SCALE (MPS) 25-33 OR EQUIVALENT AND FOR OFFICERS ON MPS 1-24 OR EQUIVALENT WITH 20 YEARS' SERVICE, WILL CONTINUE TO BE PROVIDED, BUT WILL BE EXTENDED TO COVER MODEL SCALE 1 OFFICERS WITH 20 YEARS' SERVICE AND ALSO TO OFFICERS ON MPS 22 TO 24 OR EQUIVALENT WITHOUT SERVICE REQUIREMENT, HE SAID.

RATES, WHICH

"THERE WILL BE A 40 PER CENT INCREASE IN THE HPS HAVE NOT BEEN CHANGED SINCE 1981 WHEN THE SCHEME WAS INTRODUCED.

"THE REVISION TAKES INTO ACCOUNT THE MOVEMENT IN DOMESTIC PROPERTY PRICES SINCE 1981, THE PREVAILING MORTGAGE INTEREST RATE AND GOVERNMENT'S BUDGETARY POSITION.

"THE ANNUAL QUOTA FOR THE SCHEME WILL BE INCREASED BY 400 TO 1,800 PLACES TO TAKE ACCOUNT OF THE INCREASE IN THE NUMBER OF ELIGIBLE OFFICERS. THE ANNUAL QUOTA WILL BE KEPT UNDER REVIEW.

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AS TO THE NEW HOME FINANCING SCHEME, THE SPOKESMAN SAID THIS WOULD BE OFFERED TO OFFICERS ON MPS 34 AND ABOVE OR EQUIVALENT TO REPLACE THE PROVISION OF NDQ AND PTA.

"THE ALLOWANCE PAYABLE UNDER THE HFS WILL BE FOR A MAXIMUM OF 10 YEARS," HE SAID.

"EXISTING ELIGIBLE OFFICERS WILL HAVE THE OPTION ΤΟ JOIN NEW HFS OR TO RETAIN THEIR EXISTING BENEFITS OF PTA/NDQ SUBJECT TO OPTION PERIOD.

THE

AN

FOR

"THE RATES OF THE HFS ALLOWANCE RANGE FROM $13,000 OFFICERS ON MPS 34-37 OR EQUIVALENT ΤΟ $36,000 FOR OFFICERS ON DIRECTORATE PAY SCALE D6-D10,"

AS TO THE ACCOMMODATION ALLOWANCE, THE SPOKESMAN SAID THAT IN LINE WITH THE GENERAL POLICY OF REDUCING THE PROVISION OF NDQ AND PTA, NEW OVERSEAS RECRUITS WOULD ONLY BE OFFERED AN ALLOWANCE ΤΟ RENT ACCOMMODATION.

"THE RATES OF THE ALLOWANCE RANGE FROM $13,000 FOR OFFICERS BELOW MPS 34 OR EQUIVALENT TO $36,000 FOR OFFICERS ON D6-D10."

/THE SPOKESMAN