Speech by the Chief Executive in delivering “The Chief Executive’s 2018 Policy Address” to the Legislative Council
14. Meeting the public’s demand for housing is the greatest challenge for the current-term Government. In this Policy Address, housing and land supply is treated as a stand-alone chapter and is placed before the chapters on economy and people’s livelihood. The purpose is to demonstrate clearly that the shortage of land supply not only directly leads to a shortage of housing supply, but also affects people’s quality of life. From child care centres to elderly care facilities; from basic education and healthcare services to leisure open space and cultural and recreational facilities; and from maintaining the advantages of traditional trades to promoting new economy industries, land is strictly necessary. In short, improvement of livelihood and development of the economy and transport infrastructure of our society hinge on land resources, without which all strategies or plans will end up in empty talk.
15. I stated in my Policy Address in October last year that the current-term Government’s housing policy comprises four elements, which include establishing the Government’s role in the provision of housing, building a housing ladder for our people, focusing on supply and optimising the existing housing resources to improve people’s living conditions. Of the six new housing initiatives I announced in June this year, the most important one is the revision of the pricing of subsidised sale flats (SSFs) to the effect that their selling prices will no longer be linked to market prices of private flats. Instead, the selling prices will be determined primarily with reference to the affordability of applicants. In addition, I have announced the re-allocation of nine private housing sites for public housing development. These initiatives have received wide recognition from all sectors of the community.
