Thursday, March 14, 1974
7
In connection with Hong Kong's reserves in London, Mrs. Symons
pointed out that the total sum of $3,000 million in reserve amounted to only about half a year's expenditure at the present rate.
She felt that the government should endeavour strenuously and
continuously to dispel the mistaken idea that it is mean and squeezes as
much as possible towards the reserves in London.
"The situation is simply that as a community we will have to pay
more and more for the ever-increasing scope and cost of our social services,
not to mention other provisions like transport amenities."
On the Financial Secretary's tax proposals in the sphere of
transport, Mrs. Symons agreed with her unofficial colleagues that they
should be delayed pending the publication of the Transport Green Paper.
The tax increases, she said, were ill-timed and she hoped that
"many opportunities would be provided for frank discussion before changes
in all types of vehicles licence charges are made."
taxation.
She felt it was a matter of principle that policy must procede
/8