Editorial : "A land budget" to monitor progress of land creation

【明報專訊】THE GOVERNMENT has accepted the recommendations of the Task Force on Land Supply and agreed to formulate new strategies for land supply and build up land reserves. Hong Kong's profound land problem is a man-made crisis many years in the making. To ensure that the shortage of land and housing will be solved once and for all, the government must learn a lesson, come up with adequate long-term planning and straighten out the process of land creation. Not only should the government build up land reserves or "a depot", as it were, to cope with all kinds of demand for land, but the idea of a "land budget" should also be introduced so that the demand for and supply of land can be grasped accurately, the aim being the prevention of another deficit in land supply arising from a serious underestimate of demand for land and inefficient land creation.