16
WEDNESDAY, MARCH 19, 1975
G
AGREEMENT NEAR ON HIGHER DETTING DUTY
THE GOVERNMENT AND THE ROYAL HONG KONG JOCKEY CLUB ARE REACHING AGREEMENT ON A SATISFACTORY SOLUTION TO RAISE EXTRA REVENUE FROM DETTING DUTY, THE HON. PETER VILLIAMS DISCLOSED IN THE BUDGET DEDATE TODAY.
HE DID NOT ELABORATE BUT SAID THE AGREEMENT WOULD GENERATE ADDITIONAL REVENUE FOR SOCIAL PROJECTS ON THE ONE HAND, ANO MINIMISE THE RISK OF DIVERTING MORE BETTING INTO THE HANDS OF ILLEGAL COOKMAKERS ON THE OTHER.
IN FACT, THERE HAD ALREADY DEEN A DIVERSION FROM ILLEGAL TO LEGAL DETTING IN GENERAL, HE SAID, AND AS HE BUILD AND REFINE OUR LEGAL DETTING FACILITIES THIS SWING WILL UNDOUBTEDLY CONTINUE.+
MR. WILLIAMS, WHO IS CHAIRMAN OF THE JOCKEY CLUB, DID NOT AGREE THAT OFF-COURSE BETTING FACILITIES AND THE VARIED DETTING
RATHER, THEY HAD FORMS HAD ENCOURAGED PEOPLE TO DET MORE. ENCOURAGED THE PERSON WHO BETS TO DO SO LEGALLY INSTEAD OF THROUGH ILLEGAL CHANNELS.
THE INCREASE IN DETTING THIS YEAR, HE ADDED, HAD COME FROM BETTING ON EXOTIC POOLS WHERE THERE WAS USUALLY À LARGE RETURN FOR A SMALL UNIT STAKE. AND THIS WAS WHERE THE ILLEGAL OPERATORS FOUND IT DIFFICULT TO COMPETE.
MR. WILLIAMS SOUNDED A WARNING THAT GREAT DAMAGE COULD OCCUR TO HONG KONG'S WELL-BEING FROM CLUMSY AND MISJUDGED CHANGES IN OUR TAX STRUCTURE AND LEVELS, ONE EXAMPLE WAS THE SHARP DROP IN TOTAL REVENUE FOLLOWING HIGHER GOVERNMENT CHARGES FOR RUNNING A CAR, AND HE WAS SURPRISED THAT THIS HAD NOT DEEN REVIEWED ALTHOUGH HE APPRECIATED THAT OTHER POLICY CONSIDERATIONS MIGHT DE INVOLVED.
HE DELIEVED THAT THE ECONOMIC SUCCESS OF HONG KONG LAY IN ITS COMMERCIAL AND FINANCIAL SENSITIVITY, WHETHER OUTSIDERS SET UP DUSINESS HERE OR WHETHER THE WORLD DOES DUSINESS WITH HONG KONG, HE SAID, DEPENDS GREATLY ON OUR TAX STRUCTURE AND FISCAL POLICIES,
MR. WILLIAMS SHARED HIS UNOFFICIAL COLLEAGUES DISAPPOINTMENT THAT ALL ROUND EXPENDITURE MUST BE CUT AND PLANS FOR THE FUTURE CHANGED.
HE STRONGLY SUPPORTED MR. ROGER LOBO'S PLEA TO AVOID CUT
→THESE BACKS IN THE GOVERNMENT'S RADIO AND TELEVISION SERVICES. PROVIDE A SERVICE POLITICALLY AND SOCIALLY VITAL IN DIFFICULT TIMES AND THE AMOUNTS ARE NOT LARGE.+
/TOUCHING ON