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Thursday, March 14, 1974
MORE BRICKBATS FOR VEHICLE TAX PROPOSALS
Hr. James Wu Calls For Increase In Bank Licence Fees
The Financial Secretary's proposals to restructure vehicle licence
fees and parking charges came under fire again today during the resumed
Budget debate in the Legislative Council.
The attack came from the Hon. James Wu who described the proposals
as "too hard and too soon".
He was particularly irritated by the proposal to impose a fee
on every endorsement permitting people to drive different classes of
vehicle.
Mr. Wu said:
"Obviously little thought is given to the fact
that at the very most only two driving licence endorsements (for motor
cycles and private cars) might not have been held by an occupational
driver.
Whilst it is appropriate to charge what is to them a minimal
registration fee for doctors, accountants and architects to practise their
profession, it would be grossly unfair to levy an even larger fee (if he had
enough endorsements) for a driver to practise his trade for a living
which is never done for craftsmen of other trades."
Mr. Wu pointed out that managing the finance of a government
was different from managing the same of a family. He quoted an
authoritative economist as saying that "growing debt (public) holds
little peril for a dynamically growing economy."
"The underlying