TNAG-0913-FCO40-1123-Policy-on-housing-and-resettlement-in-Hong-Kong-1979 — Page 73

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Speech by Hon. D. P.l. Lico, 0.4,9., ƒ‚P、, Acting Secretary for Housing,

in Logislative Council on 10th July 1979

Home Ownership for Middle- The One Hong Kong Solongers-

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SIP,

In winding up the debate on the Landlord and

Tenant (Consolication)(Amendacnt) Bill 1979 où 6th June,

I mentioned that the supply of medium and large flats

could change significantly with an increasing number of

suitable sites being made available. Members may be avare

that a number of sites have already been offered.

2.

Fr. Cheong-Leen now suggests that the Home

Ownership Schene should be extended to every household

in Hong Kong earning less than $10,000 a month.

Recently,

the income limit for the Home Ownership Schere has been

revised to $5,000 per month, and almost 90% of families in

Hong Kong are within this incone bracket.

3.

According to the March 1979 Labour Force Survey,

a total of only 2.2% of the total number of households had

income in excess of $10,000 a month. If the income limit

were to be raised as suggested, this would mean that

nearly 965 or virtually the total population vould be

eligible. This would be unprecedented oven in planned

economies and would certainly be inconsistent with the

circumstances in Hong Kong. Foreover, such action would

only dilute the efforts tovarde assisting lover incone

families.

4.

Mr. Chcong-Leen also suggested reviewing the

Scope of the Building and Ioan Agency, since the Agency

went public in April 1972, it has operated on a commercial

/basis