The demand for housing in Hong Kong is an old and difficult problem. The Secretary for Labour and Welfare, Law Chi Kwong Jin (22nd), "stepped across the boundary" talked about housing in his blog. He pointed out that the current government has reduced the proportion of public housing The cost has increased to 70%, but because the development of land and the construction of houses are not immediate, it takes years to show its effect.
Luo Zhiguang talks about housing policy because he believes that public housing is the most effective policy for poverty reduction, and it will be enough to lift 261,000 people out of poverty in 2019.
Luo Zhiguangjin published a blog explaining the relationship between redistribution policies and poverty alleviation.
He pointed out that income redistribution inevitably involves two processes. The first is to extract resources from the society, that is, taxation, and then redistribute the resources to the public, that is, welfare transfer.
The former is within the policy scope of the Financial Secretary and the Bureau of Financial Services and the Treasury, while the latter involves multiple policy areas, including education, medical care, housing and social welfare.
Economic and wealth sharing through land value through public housing policy
He said that since the last government, the transfer of welfare in the income redistribution policy has been a significant increase in substance and relative growth since the return of Hong Kong, and public housing is the most effective one among many policies in reducing poverty.
He said that Hong Kong is second to none in the world because of many reasons. The simple part is due to the increase in Hong Kong's economy, wealth and income.
In other words, through public housing policies, a certain degree of economic and wealth sharing can be achieved through land value.
Luo Zhiguang described public housing as the most effective in reducing poverty.
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He said that in the "Long Term Housing Strategy", the current government has increased the proportion of public housing from 60% to 70%. This is a strategy for public housing to strengthen the economy and wealth sharing. However, the development of land and the construction of housing are not Immediate results, it takes years to show its effect.
Public housing has the greatest effect in reducing poverty by 3.7 percentage points in 2019
In terms of housing policy and poverty alleviation, Luo Zhiguang cited the comparison of the Gini coefficients of the four governments from 2001 to 2016, and mentioned that the fourth government’s welfare transfer policy has undergone significant changes, and the government’s actual regularity in education, medical care, and social welfare Expenditure increased by more than 40%, and the decrease in Gini coefficient increased from 0.046 to 0.051.
He also mentioned that in the "Report on Hong Kong's Poverty Situation in 2019", public housing has the greatest effect on poverty reduction, which is enough to lift 261,000 people out of poverty in 2019 and reduce the overall poverty rate by 3.7 percentage points.
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