VEDNESDAY, FEBRUARY 26, 1975
MR. HADDON-CAVE EXPLAINED THAT RATES WERE BASICALLY A TAX ON OCCUPIERS FOR THE PAYMENT OF LOCAL SERVICES +RATHER THAN A DEMONSTRABLE ABILITY TO PAY AS WITH, SAY, EARNINGS AND PROFITS TAXES.+
*RATES CATCH MANY WHO WOULD OTHERWISE CONTRIBUTE LITTLE OR NOTHING TO THE REVENUE AND THIS SHOULD DE BORNE IN MIND BY THOSE WHO VOCIFEROUSLY COMPLAIN THAT THE DIRECT TAX NET IS CAST ACROSS TOO RESTRICTED A FIELD, HE SAID.
THE FOLLOWING ARE TABLES SHOWING THE EFFECT OF THE TWO PERCENTAGE POINT INCREASE IN THE GENERAL RATES TO 11 PER CENT:-
EFFECT OF INCREASE IN THE GENERAL RATE TO 11%
PRIVATE SECTOR
DOMESTIC (POST-WAR)
(1)
CLASS
(2) AVERAGE RENT
(3) RATES PER
(4) AVERAGE
(5)
RATES PER
5)AS A
*) (PER
MONTH AT
RENT(PER
MONTH AT
% OF (4)
MONTH
EACH 15%
MONTLI
EACH 2%
EXCLUDING
INCLUDING
RATES)
RATES)
(2)+(3)
$
SMALL
530
$7.50
$
37.50
567.50
$5.00
$
5.00
0.88%
TENEMENTS
LARGE
695
48.00
743.00
6.40
0.86%
TENEMENTS
SMALL FLATS
1,015
76.50
1,091.50 10.20
0.93%
MEDIUM FLATS
2,175
144.50
2,319.50 19.30
0.83%
LARGE FLATS 4,180
301.00
4,481.00 40.20
0.90%
HOUSES
6,190
476.00
6,666.00 63.50
0.95%
PRIVATE SECTOR
NON-DOMESTIC
(PRE-WAR AND POST-WAR)
GROUND FLOOR
2,320
211.50
2,531.50 28.20
1.11%
SHOPS
OFFICES
3,850
286.50
4,136.50 38.20
0.92%
COMMERCIAL
5,610
547.50
6,157.50 .73.00
1.19%
PREMISES
/FACTORY PREMISES