According to an official translation of her remarks, Lam said housing is the “toughest livelihood issue” facing the city’s citizens and pledged to make more land available for public housing development. In a video delivery of her policy address, she emphasized that housing issues are essential to social stability and upward mobility.
“Every Hong Kong citizen and his family will no longer have to be troubled by, or preoccupied with, the housing problem, and that they will be able to have their own home in Hong Kong, a city in which we all have a share,” she pledged.
Lam’s focus on land and housing initiatives is seen as a bid to restore confidence in the city’s future after months of anti-government protests that have crippled the city and dampened investor sentiment in the Asian financial hub.
She also reiterated the need for an immediate end to violence and said that the violent clashes have been “spreading chaos” and “seriously disrupting people’s lives” in Hong Kong.
The political uncertainties have seeped through into economic matters as the city slashed its GDP growth outlook and businesses have reported huge slumps. Retail and hospitality industries been hit the hardest. The demonstrations have also snarled the city’s normally efficient underground rail system and airport, unnerving investors.
In August, the government unveiled a HK$19.1 billion package to support the slowing economy, including subsidies for the underprivileged and business enterprises, as well as somewhat higher salary tax rebates.
Source Article from https://www.cnbc.com/2019/10/16/hong-kong-leader-carrie-lam-annual-policy-address-interrupted.html
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