XN000022-1993-05-21 — Page 8

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2,000 TO ENJOY HOUSING BENEFIT

FRIDAY, MAY 21, 1993

THE DIRECTOR OF EDUCATION, MR DOMINIC S W WONG, TODAY (FRIDAY) ANNOUNCED DETAILS OF A MORTGAGE INTEREST SUBSIDY SCHEME (MISS) WHICH PROVIDED HOUSING BENEFITS FOR STAFF IN AIDED SCHOOLS AND IN SUBVENTED WELFARE AND HEALTH ORGANISATIONS WITH EFFECT FROM SEPTEMBER 1993.

THE SCHEME WAS APPROVED BY THE FINANCE COMMITTEE TODAY.

IT IS ESTIMATED THAT $918.3 MILLION IN RECURRENT EXPENDITURE BE INCURRED IN THE FIRST 10 YEARS, INCLUDING $48.2 MILLION IN THE FIRST FULL YEAR.

WOULD

MR WONG SAID THE SCHEME WAS THE CULMINATION OF A LONG SERIES OF DISCUSSIONS WITHIN THE ADMINISTRATION SINCE 1989.

"THIS IS A POSITIVE MEASURE ADOPTED BY THE GOVERNMENT TO HELP EMPLOYEES OF SUBVENTED ORGANISATIONS TO BUY A HOME. I AM GLAD THAT IN ADDITION TO STAFF IN THE EDUCATION FIELD, OTHERS IN THE SUBVENTED SECTOR WILL ALSO BE ABLE TO SHARE THIS BENEFIT,' HE SAID.

"

MR WONG FELT THAT THE HOUSING BENEFIT WOULD ENHANCE THE MORALE OF THE TEACHING PROFESSION AND SUBVENTED SECTOR

STAFF, AND WOULD PROVIDE AN INCENTIVE FOR PEOPLE TO REMAIN IN SERVICE.

IT WOULD ALSO NARROW THE GAP IN FRINGE BENEFITS BETWEEN THE SUBVENTED SECTOR AND THE CIVIL SERVICE.

THE MISS WILL COVER AIDED AND PER CAPUT GRANT SCHOOLS, AS WELL AS SERVICE UNITS IN SUBVENTED WELFARE AND HEALTH ORGANISATIONS WHICH:

* DO NOT PROVIDE ANY HOUSING BENEFITS THAT ARE RECOGNISED FOR

SUBVENTION PURPOSES; AND

RECEIVE A RECURRENT SUBVENTION TO COVER THEIR OPERATING EXPENDITURE. HOWEVER, AIDED NURSERIES WHICH ONLY RECEIVE A FIVE PER CENT GOVERNMENT SUBSIDY AND SERVICE UNITS WHICH ARE SUBVENTED ON RENT AND RATES ONLY WILL BE EXCLUDED.

ALL FULL-TIME EMPLOYEES HOLDING SUBVENTED POSTS IN A SCHOOL OR AN ORGANISATION COVERED BY THE SCHEME WILL BE ELIGIBLE IF:.

*

*

THEY ARE PAID THE EQUIVALENT OF MASTER PAY SCALE (MPS) POINT 22 OR ABOVE ($17,235 OR MORE) AND HAVE A MINIMUM OF 10 YEARS CONTINUOUS SERVICE; OR

THEY ARE PAID LESS THAN MPS POINT 22 (LESS THAN $17,235) AND HAVE A MINIMUM OF 20 YEARS CONTINUOUS SERVICE.

CONTINUOUS SERVICE MEANS CONTINUOUS THE SUBSIDISED OR GRANT SCHOOLS PROVIDENT

FOR TEACHING STAFF, CONTRIBUTORY SERVICE

ΤΟ

FUNDS.

/"IN EFFECT,