XN000022-1993-03-04 — Page 22

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QUESTION:

GREAT, THANKS MR MACLEOD.

CUMMINGS:

THANK YOU FOR YOUR CALL.

CHAN:

THURSDAY, MARCH 4, 1993

QUESTION:

NEXT MISS LEUNG, GOOD MORNING MISS LEUNG.

GOOD MORNING MR CHAN, MR MACLEOD. NOW IN THE BUDGET IT IS SAID THAT THERE IS SOMETHING TO BE DONE ABOUT SANDWICH HOUSING BUT THE STRESS IN ON THE FIRST TIME BUYER. NOW BY FIRST TIME BUYER DO YOU MEAN THAT PEOPLE WHO HAVE NEVER BOUGHT A FLAT IN HONG KONG? NOW IF THAT IS THE CASE, I DON'T THINK IT'S FAIR, BECAUSE FOR FIRST TIME BUYER, IT SHOULD MEAN THAT IT'S RESTRICTED TO TWO OR THREE YEARS

AGO, THAT IS IN THE PAST TWO OR THREE YEARS THEY HAVE NOT OWNED PRIVATE PROPERTY, SO I THINK THOSE SANDWICH CLASS. SHOULD ALSO BENEFIT. SO I WOULD LIKE TO ASK MR MACLEOD, WITH REGARD TO THE FIRST TIME BUYER IN THE SANDWICH CLASS,

DO YOU MEAN THOSE WHO HAVE NEVER BOUGHT ANY

PRIVATE PROPERTY, SO YOU MENTIONED FIRST TIME BUYERS?

FS:

YES.

I'M NOT SURE THAT THE DEFINITION HAS ACTUALLY BEEN FINALISED YET, THAT WILL HAVE TO BE DISCUSSED WITH THE HOUSING SOCIETY AMONG OTHERS BUT I WOULD GUESS THAT PROBABLY IT DOES MEAN THAT THE PERSON HAS NOT BOUGHT A FLAT IN HONG KONG BEFORE BECAUSE THE THEORY IS OF COURSE THAT ONCE YOU'VE GOT INTO THE HOUSING MARKET YOU THEN HAVE AN ASSET AND YOU THEREFORE HAVE SOME MONEY WHICH ENABLES YOU TO GO ON UP THE LADDER OF HOUSING BUT I NOTE THE POINT AND I THINK THE TRUTHFUL ANSWER IS WE HAVEN'T ACTUALLY DRAWN UP THE DEFINITION YET.

CHAN: YES, MISS LEUNG.

QUESTION: I WOULD LIKE TO ASK MR MACLEOD FURTHER. NOW IF THAT'S THE DEFINITION OF FIRST TIME BUYER, I THINK IT'S VERY UNFAIR BECAUSE MARKET PRICES HAVE GONE UP SO MUCH AND THAT'S ONLY IN THE PAST THREE YEARS THAT'S HAPPENED. AS FOR MYSELF I SOLD MY FLAT A FEW YEARS AGO SO IT'S IMPOSSIBLE FOR ME TO REBUY ANOTHER FLAT IN THE LAST TWO OR THREE YEARS AND ALSO I FALL WITHIN THE SANDWICH CLASS SO I WOULD LIKE TO KNOW OR I WOULD HOPE RATHER, THAT THIS DEFINITION WOULD COVER PEOPLE LIKE MYSELF. THAT IS FOR THOSE THAT HAVE NOT OWNED PRIVATE FLAT IN THE PAST TWO OR THREE YEARS.

FS: I WILL CERTAINLY PASS YOUR POINT OF VIEW. I UNDERSTAND EXACTLY WHAT YOU'RE SAYING. I WILL PASS YOUR VIEW ON TO THE COMMITTEE WHICH IS LOOKING AT THESE DEFINITION PROBLEMS.

CHAN:

THANK YOU MISS LEUNG FOR YOUR MENTIONING THE SANDWICH CLASS HOUSING. NOW WE HAVE ANOTHER CHINESE CALLER.

MADAME

CHAN, GOOD

SALING.

/QUESTION