Transcript of a media stand-up by the Secretary for Housing, Planning and Lands, Mr Michael Suen, after appearing on RTHK's programme "Talkabout" (English portion)

Following is the transcript of a media stand-up by the Secretary for Housing, Planning and Lands, Mr Michael Suen, after appearing on RTHK's programme "Talkabout" this morning (May 30) (English portion):

Reporter: There have been some calls from some politicians that the Government should resume the sale of HOS flats earlier than scheduled, that is, before 2006 because the market is reviving and also it could increase government revenue. How do you look at that?

Secretary for Housing, Planning and Lands: I think there is no question of government losing any revenue over our existing measures because HOS flats are built for sale and eventually they will be sold. The difference is about timing for sale. They are proposing that we should commence sales with effect from now. We have said that we will resume sales of those flats after 2006. So it is a question of a difference of about a year. As far as revenue is concerned, there is no revenue foregone. We will be selling our flats in due course.

Reporter: Is there a need to review the policy of resuming the sale of HOS flats in 2006, since the market has recovered quite well?

Secretary for Housing, Planning and Lands: I don't think so. I think there is no need to consider that because at the moment there is adequate supply of flats in the market.

Reporter: Another thing is about the application list system. Actually, you mentioned in the programme that the market is not very happy with the price set. What direction are we heading if we are talking about reforming that system?

Secretary for Housing, Planning and Lands: I think the application list is intended as a form of disposal of land so that land is supplied in the market at an even rate. Judging from experience so far, I can't say that we have achieved that objective 100%. And so I believe there is scope for us to refine that system and that is exactly what we are doing.

(Please also refer to the Chinese portion of the transcript)

 

Ends/Monday, May 30, 2005

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