E. TO INCREASE CHARGES IN RESPECT OF CERTAIN POSTAL SERVICES,
SO AS TO MAKE UP FOR CERTAIN LOSSES IN THIS PUBLIC UTILITY TYPE UNDERTAKING. (ADDITIONAL REVENUE ABOUT DOLLARS 8 MILLION IN 1978-79):
F. TO ABOLISH STAMP DUTY ON A LARGE VARIETY OF TRANSACTIONS,
EXCEPT ON CONTRACT NOTES IN RESPECT OF SHARES AND MARKETABLE
SECURITIES, ASSIGNMENTS OF IMMOVABLE PROPERTY, AND LEASES AND ASSIGNMENTS OF LEASES, AT A COST TO THE REVENUE OF DOLLARS 130 MILLION IN 1978-79)
G. TO REDUCE STAMP DUTY ON CONTRACT NOTES SO AS TO REMOVE AN
ALLEGED DISINCENTIVE TO TRADE IN MARKETABLE SECURITIES, AT A COST TO THE REVENUE AT PRESENT LEVEL OF TURNOVER OF DOLLARS 25 MILLION
IN 1978-79.
21. AS THE NET COST TO THE REVENUE OF THESE PROPOSALS IS DOLLARS
120 MILLION, THE ESTIMATED OUTTURN FOR 1978-79 IS A SMALL DIFICIT
OF DOLLARS 20 MILLION:
ESTIMATED REVENUE
ESTIMATED EXPENDITURE
DOLLARS MILLION
10,366
10,266
DIFFERENCE
REVENUE PROPOSALS
FINAL POSITION
MACLEHOSE
DEPARTMENTAL DISTRIBUTION
HKGD (5)
FRD
ECON D
FED
SEAD
TRED EID
- 7
-
+100
-120
-20
COPIES TO:
HKGO