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On air

On air:  Chief Executive CY Leung speaks on a radio show.

Gov’t to boost public housing supply

January 20, 2013
Chief Executive CY Leung says the Government will increase the number of public rental housing units by expediting supply in the fourth and fifth year from now, by seeking new land, and by rezoning land, to provide more than 75,000 flats.
 
Speaking on a radio programme today, Mr Leung said if property developers hoard residential units and cause property prices to rise, the Government will adopt any means or policies needed to tackle the problem, and it will not wait until the next Policy Address.
 
He hopes the Government can tackle the housing problem with the district councils, adding communication with them is important. He said the Government should not only lobby the councils, but also explain policies to them, and listen to their views.
 
He said Mainland leaders understand Hong Kong's situation well and support his work. They also agree that tackling the housing problem is a priority of the current term Government.
 
Meanwhile, he said the Government adopts the principle of meritocracy in appointing members of the Financial Services Development Council, regardless of their background, nationality, and place of origin.
 
Hong Kong needs to make good use of its opportunities as it is facing competition from neighbouring cities like Shanghai and Singapore, he said, adding the Government needs practitioners' suggestions to promote the financial industry.
 
He said he has high expectations for the policy recommendations by the Financial Services Development Council and the Economic Development Commission.
 
Mr Leung said he has asked the Commission on Poverty to set a poverty line by the end of this year, so the Government’s poverty alleviation measures can be launched according to the line.
 
He said universal retirement protection is a big issue, as it involves high expenditure by individuals, employers and the Government. Scholars also have different views on its economic impact. The Poverty Commission’s Social Security & Retirement Protection Task Force will listen to views on, and study, the issue.


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2013 Policy Address