Vl. enter.
Myu eve
17
Sir,
Speech by Hon. D.P.H. Liao, Acting Secretary
for Housing, in Legislative Council
on 20 April 1977
J-KK 360 ска
1> MAY 1977
LIKK 360/1
In supporting the motion, I am glad to report a continuation of the vigorous pursuit of our long- term housing programme, the overall objective of which is to improve housing conditions in Hong Kong. I noted that in this debate, at least one Member described housing as still being the major problem in Hong Kong, and another chided us for devoting a relatively small proportion of our budget to housing. Other Members however pointed to the many projects in the pipeline, which will result in more than half our projected population living in public housing. In particular, I am glad to see that there was a good reception for the Government's home ownership scheme, and it is gratifying that it has attracted a good deal of favourable comment by public and media since it was first announced.
Mr. Lobo has suggested setting our sights higher for the home ownership scheme, by extending the special mortgage terms generally to buyers of small flats in the private sector, or indeed of flats in the main public housing programme. An extension to persons in the selected income range who wish to buy suitable private-sector flats would appear to be logical, but we must learn to walk before we can run. Even within the limitations as presently conceived, the demand for these special mortgage terms from buyers of Housing Authority or joint venture scheme flats would be very large indeed, and it would be prudent to maintain these- limitations for the first year or two, to let us see how the commercial banks and other lending institutions cope with the demand. But I can assure Mr. Lobo that we will keep his suggestion in minà.
/Cn the same
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