MR. LI : Sir, a
13
speculator
1
looking for an immediate
capital gain of at least 10 per cent. Will the Government
interest rate will have to be at
confirm that a negative interest
least 10 per cent per quarter or 40 per cent per annum to
be effective? And even if this rate is applied, as in
Switzerland, it was not effective.
FINANCIAL SECRETARY : Sir, I think it would be wrong for
me to speculate, if I could use that word in a different
sense, on what negative interest rate would be
would be adopted.
to the principal
But, as I said at the end of my answer
question, it seems that intelligent speculators have
already taken account of the resolve of this Government to
maintain the present rate and the rate, as I said earlier
on, is now trading happily at around the 7.80 mark.
HIS
EXCELLENCY THE PRESIDENT : I have five more people
I have no wish to limit
who wish to ask supplementaries.
discussion but at some point I am going to draw a line.
Mr. Martin LEE.