Alex Lo is not too complimentary above the wealth transfer scheme from the poor to the rich
Instead of aiming to pass the bill amendments before the Legco term ends in 2020 and scrap the offsetting mechanism in 2022, the latest proposal targets getting it through the legislative process during Lam's tenure, which ends in 2022, according to a government source.
"After the bill has been passed, we'll need two more years to draft more details and let everyone get familiar with the cancellation of the mechanism. So we target to introduce the change by 2024," she said.
Regina Ip speaks.Regina Ip critical of Lantau mega project - RTHKIp, who's also an Executive Council member, questioned how a project that could be some 20 years in the making could solve Hong Kong's immediate housing woes.
"If it is such an urgent matter, why in the first place [did] the government allow the task force to take so long to conduct its consultation," she said on RTHK's Hong Kong Today.
"Moreover, although I agree that reclamation is necessary to increase land supply, the price tag of this tremendous project is not clear and it's going to take 20, 30 years. So, it's not going to solve our land shortage problem."
But there is no land shortage problem. Land shortage problem is just made up by the construction industry.
Loads of illegal car parks in NT which could be used for land. Loads of brownfield sites. Loads of unused industrial land.
Why do they need to create more reclaimed land when there is already enough land out there?
Yes yes I know what the answer is. But sometimes, its just like hitting a brick wall.
Keeping up with previous custom of needing double the money of original budget after few years into project, this one is smartly reverse engineered.. Start with mind boggling number 500B, keep the time-frame 20-30 yrs, divide the project into multiple phases so by the time it finishes, total cost would be somewhere around 1T.. Log term cash cow...