Most Hongkongers would probably agree with property tycoon Gordon Wu Ying-sheung that appallingly tiny living spaces and the shortage of land are sources of deep community frustration (“Fix housing ‘to win Hongkonger hearts’” (March 15).
However, a fundamental reason for this general angst is the huge disparity in wealth and living standards between a small plutocracy, including senior government officials, and the mass of ordinary people.
Your columnists – Richard Harris (March 12), Brian YS Wong (March 17) and Alex Lo (March 19) – cite the domination of the local economy by cartels, monopolies and conglomerates as stifling effective governance, economic performance and wage growth.
04:29
Hong Kong cage home resident finds space too small for self-quarantine amid coronavirus outbreak
Hong Kong cage home resident finds space too small for self-quarantine amid coronavirus outbreak
Blaming Hong Kong chief executives’ “misconception” of democracy for land policy stagnation is a red herring. The government’s high land price policy, which is created by a deliberate shortage of supply, and the recycling of land premiums through the Capital Works Reserve Fund have worked hand in glove for the benefit of a handful of property tycoons.
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The East Lantau reclamation project seems to fit comfortably into this picture. Wu is correct to criticise development lead times, as we have witnessed the snail’s pace of work at West Kowloon and Kai Tak, especially when compared to the Rose Garden Project – including Hong Kong International Airport – in the 1990s.
The projected Hong Kong population of 11 million has apparently been pulled out of a hat to justify pouring billions of Hong Kong’s public reserve funds into the sea off Lantau Island. Endemic housing inadequacy and the stagnant economy will not encourage Hongkongers to have children. Natural population growth, even allowing for 150 entrants from the mainland per day, will reach nowhere near 11 million in the next 30 years.
02:43
Why Carrie Lam’s Lantau land reclamation plan is so controversial
Why Carrie Lam’s Lantau land reclamation plan is so controversial
The housing crisis is upon us now: given our government’s land development performance since 1997, who could maintain confidence that this scheme will actually generate housing for the community before 2047?
