13
Wednesday, March 14, 1973
She described this as a gesture to encourage a healthy saving
habit for small investors, and to draw them away from the dangerous game
of the "gold fish bowls" where they might one day get drowned.
Abolition of tax relief for dependent parents, she said, brought
disappointment to a large proportion of the Chinese community and provoked
a great deal of criticism.
Mrs. Li pointed out that in the first place it was Chinese
tradition for the sons to look after their parents. Secondly, the increased
personal allowances would benefit only those who did not support their parents
and who did not take out insurance.
Housing
"Until the time when the present generation of parents die off
and the next generation have made enough money in the share markets during
these few years to be entirely financially independent of support from
their children in 20 years' time, I urge Government to re-instate this
important allowance in our tax system, for the sake of principle if nothing
else."
Touching on housing, Mrs. Li said there still existed a lack of
a sense of identity and a sense of belonging among those living in public
housing estates.
"It is difficult to expect them to develop any sense of identity
or belonging because only possession can give one a sense of satisfaction and
pride."
/Most of