3.
MONDAY, JULY 17, 1978
INTEREST UP TO 2-1/2 PER CENT PER ANNUM EXEMPT FROM TAX
******
A GOVERNMENT SPOKESMAN ANNOUNCED TODAY THAT INTEREST PAYALE BY LICENSED BANKS AND BY THE GOVERNMENT AT RATES OF UP TO 2-1/2 PER CENT PER ANNUM WOULD BE EXEMPTED FROM INTEREST TAX WITH EFFECT FROM MIDNIGHT TONIGHT.
THIS REPRESENTS AN INCREASE OF 1/4 PER CENT IN THE EXEMPTION LIMIT AND FOLLOWS THE ANNOUNCEMENT BY THE EXCHANGE BANKS' ASSOCIATION LAST FRIDAY THAT THE RATE OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE SIMILARLY RAISED TO 2-1/2 PER CENT ALSO WITH EFFECT FROM TODAY.
PROPOSED LANTAU FIXED CROSSING CONTRACT
***
THE PUBLIC WORKS DEPARTMENT AND MOTT, HAY AND ANDERSON TAR EAST WILL SIGN AN AGREEMENT TOMORROW (TUESDAY) TO CARRY OUT AN INVESTIGATION INTO THE PROPOSED LANTAU FIXED CROSSING.
THE SIGNING WILL TAKE PLACE IN THE P.W.D.'S CONFERENCE ROOM, 21ST FLOOR, MURRAY BUILDING, GARDEN ROAD, AT 11 A.M.
NOTE TO EDITORS:
YOU ARE INVITED TO SEND REPRESENTATIVES TO COVER THE CONTRACT SIGNING CEREMONY AT 11 A.M. ON THE 21ST FLOOR OF MURRAY BUILDING. TELEVISION CREWS ARE ASKED TO ARRIVE EARLY SO THAT THEY WILL HAVE AMPLE TIME TO SET UP THEIR CAMERAS.
AFTER THE SIGNING CEREMONY, MR. DAVID STEAD, DIRECTOR OF ENGINEERING DEVELOPMENT, AND MR. C.K. CHOW, GOVERNMENT HIGHWAY ENGINEER/MANAGEMENT, WILL BE AVAILABLE FOR INTERVIEW.
14