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WEDNESDAY, MARCH 30, 1977
HE QUERIED WHY THE GOVERNMENT SHOULD ALLOW ITSELF AN INCREASE OF AS MUCH AS 33-1/3 PER CENT IN RATES SINCE IT HAD ALLOWED LANDLORDS A 10 PER CENT INCREASE IN RENTALS PER YEAR.
HE WENT ON IT HAS TO BE NOTED THAT RENTAL IS THE SINGLE MOST IMPORTANT FACTOR IN THE INFLATION OF COST OF LIVING AND PRODUCTION IN HONG KONG AND THAT RATING OF PREMISES ON THE BASIS OF VACANT POSSESSION WOULD NOT HELP THE SITUATION,
HOWEVER, MR. WU SAID WHILE THE GOVERNMENT MIGHT NOT HAVE SUCCEEDED IN CONVINCING MOST PEOPLE ON THE FAIRNESS OF ITS METHOD OF ASSESSMENT OF RATEABLE VALUES FOR PREMISES,
ITS PROPOSAL TO REDUCE THE POUNDAGE, FROM 18 PER CENT TO 11-1/2 PER CENT, AT LEAST ALLEVIATED TEMPORARY DISGRUNTLEMENT IF NOT LONG TERM FEAR+.
COMMENTING ON THE BUDGET IN GENERAL TERMS, MR. WU FELT THAT PUBLIC OPINION HAD, BY AND LARGE, BEEN GIVEN SOME CONSIDERATION WHEN GOVERNMENT FORMULATED ITS BUDGET PROPOSALS.
+THIS CAN ONLY HELP TO ENCOURAGE BETTER COMMUNICATION AND TO PROMOTE BETTER UNDERSTANDING BETWEEN GOVERNMENT AND THE COMMUNITY, HE OBSERVED.