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THURSDAY, MARCH 10, 1994

THE THE GOVERNMENT WILL ALSO BE IDENTIFYING WAYS OF INVOLVING

INFRASTRUCTURE NEEDED FOR PRIVATE

IN SUPPLYING MORE OF THE SECTOR MAJOR DEVELOPMENT PROJECTS TO BE PROPERLY SERVICED.

OF DELAY IN USING PRIVATE SECTOR

THIS SHOULD HELP ELIMINATE SIGNIFICANT SOURCES

BY ON NEW SITES WORK STARTING CONSTRUCTION CAPITAL TO OPEN UP NEW LAND.

GOVERNMENT EFFORTS TO PREVENT THE LONG TERM

TURNING TO PUBLIC HOUSING PRODUCTION, HE SAID: "THE AND THE HOUSING AUTHORITY HAVE MADE CONCERTED PLANNED PUBLIC FLAT PRODUCTION FROM SLIPPING BEYOND HOUSING STRATEGY PERIOD UP TO 2001 AND TO ALLEVIATE A BUNCHING PROBLEM TOWARDS THE END OF THE PERIOD.

PROPOSAL TO

OF

"THE HOUSING DEPARTMENT HAS ALSO COME UP WITH A REDUCE THE CONSTRUCTION LEAD TIME TO BRING FORWARD THE COMPLETION PUBLIC HOUSING PROJECTS BY 11 MONTHS," HE ADDED.

PROPERTY INTO THE EASY-TO-ADMINISTER

ON A PROPOSAL OF INTRODUCING A CAPITAL GAINS TAX FOR

NOT FIT TRANSACTIONS, MR EASON SAID THE SUGGESTION DID

SIMPLE AND FUNDAMENTAL POLICY OF MAINTAINING A TAXATION REGIME BASED ON LOW TAX RATES.

ON OUR

ANY

BUT

OUTWEIGHS

"THE LONG-TERM NEGATIVE EFFECT SUCH A TAX MIGHT HAVE ECONOMY, AND ON THE WAY INVESTORS PERCEIVE HONG KONG, SHORT-TERM EFFECTS IT WOULD HAVE ON COOLING PROPERTY SPECULATION. OUR BOOK ON IT IS NOT COMPLETELY CLOSED,

HE NOTED.

WAS

IT HE SAID THE

HE DENIED THERE WAS A HIGH LAND PRICES POLICY BECAUSE THE MARKET RATHER THE GOVERNMENT THAT FIXED PRICES. GOVERNMENT'S POLICY WAS TO PROVIDE A SUFFICIENT SUPPLY OF LAND TO MEET DEMAND TO THE FULLEST EXTENT POSSIBLE.

**THERE IS NEITHER ANY EVIDENCE TO SUGGEST THAT DEVELOPERS HOARDING LAND AND FLATS BECAUSE THEY USUALLY SELL PRODUCTION, AND ON NEW SITES, THEY ARE BOUND BY WHICH REQUIRE PRODUCTION USUALLY WITHIN THREE YEARS,

ARE

FLATS AHEAD OF BUILDING COVENANTS

HE ADDED.

[L

LABOUR LAW CLARIFIED

EMPLOYMENT

INCLUDING ALL EMPLOYEES

WELFARE A LABOUR ORDINANCE THOSE

IN RESPONSE TO MEDIA AND PUBLIC ENQUIRIES ON EMPLOYEES' AND BENEFITS AS PRESENTED IN A RECENT TELEVISION PROGRAMME,

POINTED OUT THAT THE SPOKESMAN DEPARTMENT APPLIED, WITH CERTAIN EXCEPTIONS, TO BARNING MONTHLY WAGES OF MORE THAN $15,000.

AS

THE SPOKESMAN SAID AN THE LONG SERVICE PAYMENT, REGARD

HIS EMPLOYER EMPLOYEE WAS ENTITLED TO SUCH PAYMENT IF HE HAD SERVED FOR NO LESS THAN FIVE YEARS AND WAS BEING DISMISSED FOR REASONS OTHER THAN SUMMARY DISMISSAL OR REDUNDANCY; DIED IN SERVICE OR RESIGNED GROUNDS OF ILL HEALTH.

ON

/AN EMPLOYEE