Expect A Decision This Month On Vacancy Tax: CE

Chief Executive Carrie Lam said on Wednesday that the government will announce a decision by the end of this month on whether it will impose a tax on vacant property held by developers.

She offered the timetable at a Legco question time session after the Civic Party's Dennis Kwok repeated his call for such a tax. Developers are said to be currently hoarding about 9,000 completed flats.

The CE said any vacancy tax move would have to be debated and approved by lawmakers.

Meanwhile, Democratic Party lawmaker James To said the government should shoulder the responsibility for boosting housing instead of shifting this duty onto the Task Force on Land Supply, which is currently conducting a public consultation on the matter.

In response, Lam said consultation is crucial before the government decides on any major steps.

"There is a need to build a consensus on land supply. It takes time to build a consensus, so don't say something so cynical. In the past, I was criticised for not consulting the public properly before doing anything, that's why this time around we are doing this consultation on land supply."