Policy Address 2001

Relief for Mortgage Holders

104. The property market has a vital bearing on our economy and people's livelihood. Recently we introduced a moratorium on the sale of Home Ownership Scheme flats. The Chief Secretary for Administration is now conducting a comprehensive review of our public housing framework. The objective is to improve efficiency and provide better services to the public. To ease the burden of home owners, we will propose to the Legislative Council to raise the tax-deduction ceiling for housing loan interest to $150,000 per year for this and the next year of assessment.

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