1954-1955 — Page 12

scale it is estimated that the Authority should aim at a target of at least 10,000 flats a year; that would be barely sufficient to deal with the natural rate of increase of the population without taking any account of the existing need. Such a programme would require about 40 acres of land and loans of up to $130,000,000 annually and at present neither land nor funds are available on this scale. At the moment three sites, totalling about 24 acres, have been allocated to the Authority. A sum of $50,000,000 has been set aside by Government for the Housing Authority, but its current commitments will account for more than half this sum and it is not known what funds will be made available for this purpose in future years. This financial uncertainty has hampered the Authority in its detailed planning of current projects-the proportion of overhead administrative charges, for instance, that should be set off against future schemes cannot be calculated with any certainty —and it has made any long-term housing plans impossible.

17. It is not of course intended that the Authority should attempt to solve the housing problem on its own. The various housing schemes initiated by Government will continue and for the time being at any rate the two pilot housing schemes are to continue to be administered by the Hong Kong Housing Society and the Hong Kong Model Housing Society. It is also hoped that building by private enterprise will continue on a material scale. All these enterprises will be required to assist if the problem is to mastered and there is no intention of allowing the Authority to set itself up as a monopoly in this field.

PROGRESS

18. At the end of August 1954 two building sites were allocated to the Authority, one of about 6 acres in extent situated at Java Road, North Point, and one of about 31 acres at Cadogan Street, West Point. In December, 1954 a further site was allocated; this site is just under 15 acres in extent and is situated at So Uk (Li Cheng Uk) Cheung Sha Wan.

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