Chief Executive John Lee Ka-chiu acknowledged the value of the widely speculated Tenants Purchase Scheme but emphasized that further research is necessary prior to making any decisions regarding its relaunch.
His comment during the television forum on the Policy Address followed the government's decision not to reinstate the Scheme.
Regarding the criticism about the lack of measures in "cooling down" the property market, Lee reiterated the government's consistent approach concerning private housing policies, underlining the necessity of mitigating substantial market fluctuations.
He remarked that the determination of whether properties are deemed expensive is a comparatively "subjective" assessment. He believes that the government's role should focus on ensuring adequate land supply and providing assistance through public housing initiatives, the Home Ownership Scheme, and the White Form Secondary Market Scheme.
There are currently 39 housing estates covered in the Tenants Purchase Scheme, with purchase rates varying from over 90 percent to 50 percent, with 15 to 16 percent of tenants uninterested in purchasing, according to the city leader. He emphasized the need to understand the reasons behind this, and encouraged public feedback.
The Heads of Department Accountability System was another major highlight in the latest policy address with a two-tier investigation mechanism. When asked to define "severe", Lee mentioned that such a system had always existed, and he aims to "systematize and clarify" it through the mechanism.
A Committee on Development of the Northern Metropolis was also set to be established in the policy address, to be led by Lee himself. He mentioned that the formerly formed Steering Committee on the Northern Metropolis had completed its "preparatory" phase, hence the "implementation" phase should begin.
Under the new Committee, three working groups will be set up and led by the Financial Secretary, Chief Secretary for Administration and the Deputy Financial Secretary.
He also encouraged the public to read together the two chapters of "Accelerate the Development of the Northern Metropolis" and "Industry Development and Reform" in the policy address, adding that the development of the Northern Metropolis University Town should align with industry needs to fully utilize the area's land potential.
To accelerate development, the government will simplify various approval processes and create a dedicated legal framework, utilizing subsidiary legislation to address specific issues.
