WHY HAS NO ATTEMPT BEEN MADE TO ACHIEVE A REDISTRIBUTION OF WEALTH IN HONG KONG BY RAISING THE LEVEL OF INCOME TAX FROM ITS PRESENT MAXIMUM OF 15%7
5. Only a very small proportion of the population is liable
to direct tax on earnings, so that raising the rate of taxation
will not have a significant effect on wealth distribution.
WHY DOES THE BUDGET NOT ALLOW FOR GREATER SPENDING TO IMPROVE THE LOT OF THE LEAST PRIVILEGED IN HONG KONG?
6. The Hong Kong Government are already committed to a
large programme of social reforms and development in all areas.
The current Budget makes full provision for this.
IF THE HONG KONG GOVERNEENT ARE ABLE TO ACHIEVE A BALANCED BUDGET AT THE SAME TIME AS THEY ARE PURSUING A MAJOR DEVELOPMENT PROGRAMME, AND STILL KEEP INCOME TAX AT A MAXIMUM LEVEL OF 15%, WHY CAN THE BRITISH GOVERNMENT NOT DO THE SAME?
7. That is a matter for my right honourable Friend the
Chancellor of the Exchequer.
IS NOT THE HONG KONG GOVERNMENT TO BE CONGRATULATED ON THE BUDGET?
8. My right honourable and noble Friend the Minister of
State has already sent a message to the Governor of Hong Kong
congratulating him on the significant increase in public
spending and particularly the extension of social services.