Policy Address

Chapter IX    Facilitate Stable Living in a Caring and Inclusive Society

206. Improving people's livelihood is my key policy priority. Since taking office, the current-term Government has been striving to build a vibrant economy and promote development. These efforts aim to enhance our economy's long-term competitiveness, generate strong growth momentum, and lay a solid foundation for improving the well-being of our people – ultimately increasing their sense of happiness and well-being. This chapter on livelihood is the longest in the Policy Address, covering nine areas that are closely linked to the everyday lives of Hong Kong residents.

(A) Increase Housing Supply and Enrich the Housing Ladder

207. Safeguarding the basic housing needs of people of Hong Kong is the top priority of our governance. Since assuming office, I have strengthened housing protection for the grassroots by accelerating the construction of PRH, launching the innovative LPH and cracking down on PRH tenancy abuse. With the supply of PRH continuously increasing, the Government is now well positioned to further assist the grassroots in achieving home ownership. We will increase the supply of flats under the Home Ownership Scheme (HOS) and the Green Form Subsidised Home Ownership Scheme (GSH), optimise the sale and alienation restriction arrangements, help more PRH tenants realise home ownership, while enabling the owners of subsidised sale flats (SSFs) enter into the private housing market. With the housing ladder enriched, we can support residents across all walks of life to live and work happily.