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The following is issued on behalf of the Housing Authority:
Following is a transcript of remarks by the Secretary for Transport and Housing, Ms Eva Cheng, who is also the Chairman of the Housing Authority (HA), at the media stand-up after attending the HA's Strategic Planning Committee meeting today (September 13) (English portion):
Reporter: Can you explain right now why did the Government try to take back that land unconditionally? Why do you think that's the best way forward?
Secretary for Transport and Housing: I think the Strategic Planning Committee has had a thorough discussion this afternoon. Taking into account all the factors including what is the best use of this valuable piece of land in North Point. They all agreed that in terms of the usage, it is no longer appropriate for the construction of public housing flats.
The other consideration of course is a very healthy financial position that the Housing Authority is now in. The current cash balance is at $ 57 billion and projected to rise to $70 billion in 2011, taking into account all the expenditure -- maintenance, operating expenditure as well as construction during this period.
The other consideration of course very important is the Government's continuous commitment to provide sufficient land for the construction of public housing units so as to meet our pledge that the average waiting time for a public housing flat continues to be around three years.
So taking into account all these considerations, the Committee feels that it is prepared to return the land on the basis of no compensation.
Reporter: Are you worried that this will cause concern on the Government's land policy?
Secretary for Transport and Housing: I think there is a very clear land policy that we will continue to provide sufficient land for the provision of public housing units. I think this commitment is very clear and we are certainly very committed to it.
(Please also refer to the Chinese portion of the transcript)
Ends/Thursday, September 13, 2007
Issued at HKT 21:40
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