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Wednesday, March 14, 1973
ABOLITION OF TUNNEL TOLL AND STAMP DUTY ON CHEQUES
Suggested By Mr. Wang In Budget Debate
The Hon, Wilson Wang today called for the abolition of both
the 50 cents toll for the Lion Rock Tunnel and the stamp duty on cheques.
He said in the Budget debate that the tunnel toll was "time-
wasting and irksome" and did not appear to serve any fiscal or policy
objective.
"When one considers the high cost of numerous bridges and
flyovers that are free from toll tax, the retention of this tunnel
toll does appear somewhat unjust," he said.
He pointed out that the estimated revenue from the toll
this year amounted to only $3 million, without taking into account the
expenditure involved in its collection.
Supporting a suggestion for abolishing stamp duty on cheques,
Ir. Wang noted that more and more low-wage earners were opening current
accounts.
Commenting on the Financial Secretary's proposal to exclude
allowances for dependent parents, Mr. Wang conceded that the allowance
was open to abuse, but at the same time he noted there were fcars its
abolition might discourage the virtue of supporting parents.
To eliminate the risk of abuse and the cost of administering
this allowance, he suggested that a dependent parent should be made to
apply for a certificate from a social welfare officer to establish his
ar her need.
The certificate