TNAG-1727-FCO40-2440-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 298

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own one's home rather

conditions,

than to rent.

to and a growing aspiration

It has been projected that from now to the year 2001, 960,000 additional flats will have to be constructed to satisfy demand for housing, out of which 100,000 households more than

half of whom will be sitting public rental housing tenants) will

have home

purchase aspirations.

These

aspirations

cannot be

satisfied by the existing housing strategy that relies solely on the resources of the public sector.

In view of this, Government has approved the adoption of the Long Term Housing Strategy, the main objective of which is ensure that adequate housing at an affordable price or rent is available to all aspiring households, and to promote and satisfy the growing demand of home purchasers by the year 2001.

The Long Term Housing Strategy is a strategy that will make the most effective use of the resources of the private

sector in addition to that of the public sector in housing

production. In SO doing, it will require a high

high degree of sensitivity in gauging the changing needs and aspirations of the

community in

in housing as well as the constant evaluation of the

in capabilities in housing production both the public and private

sector to meet these demands.

It is because of this

S made to the organigation of the

its financial

arrangements,

SO

that certain changes have to be Housing Authority, especially in

that the Housing Authority

can

have the degree of flexibility and financial autonomy necessary to implement the Long Term Housing Strategy.

The Housing (Amendment) Bill 1988, which introduces amendments to the Housing Ordinance

the Housing in respect of Authority's establishment and constitution and other matters, aimed at increasing the flexibility of the Housing Authority to

is

ster