WEDNESDAY, FEBRUARY 23, 1983
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IF PASSED ON TO THE CONSUMER IN FULL, THE INCREASE IN PRICE OF AN AVERAGE PACKET OF 20 CIGARETTES MIGHT BE ABOUT $1.50 FOR HONG KONG MADE BRANDS AND 32 TO $2.50 FOR IMPORTED BRANDS.
ADDITIONAL REVENUE OF ABOUT $900 MILLION SHOULD BE OBTAINED AS A RESULT OF THESE INCREASES, EVEN ALLOWING FOR REDUCED DEMAND WHICH WAS +NO BAD THING IN ITSELF, HE SAID.
ON DUTY RATES FOR HYDROCARBON OILS MR BREMRIDGE SAID THEY WERE REVISED ONLY LAST MAY FOR TRANSPORT POLICY REASONS, WHEREAS THE LAST REVISION FOR FISCAL REASONS WAS MADE IN 1976.
HE POINTED OUT THAT SINCE 1976, AND IGNORING THE INCREASES OF LAST MAY, THE INCIDENCE OF THE DUTY IN RETAIL PRICES HAD DECLINED. HE THEREFORE PROPOSED TO RESTORE THE INCIDENCE AND THEN TO ADD BACK THE MAY INCREASES, INCREASING THE DUTY RATE ON MOTCR SPIRIT FROM $1.20 TO $2 A LITRE.
THE DUTY ON DIESEL GIL FOR ROAD VEHICLES WAS NOT ALTERED LAST MAY TO RESTORE THE ORIGINAL INCIDENCE, HE PROPOSED INCREASING THE DUTY RATE FROM 35 CENTS TO 81 A LITRE.
HOWEVER, HE SAID THE INCREASED DUTY RATE WOULD NOT APPLY TO DIESEL OIL USED BY ENFRANCHISED PUBLIC BUSES, TO AVOID IMPOSING AN ADDITIONAL BURDEN ON PUBLIC TRANSPORT USERS WHO TEND TO BE THE LESS WELL OFF. HE EXPLAINED THAT AN ARRANGEMENT WOULD BE INTRODUCED TO REFUND THE INCREASE OF 65 CENTS A LITRE ON DIESEL CIL USED ON ENFRANCHISED PUBLIC BUSES.
THE NET ADDITIONAL REVENUE YIELD FROM THE HYDROCARBON DILS WOULD BE ABOUT $530 MILLION.
WITH REGARD TO FEES FOR PROVISIONAL DRIVING LICENCES, ANNUAL DRIVING LICENCES AND DRIVING TESTS WERE LAST REVISED IN 1973, AND COSTS HAD INCREASED BY AT LEAST THREE TIMES SINCE THEN, MR BREMRIDGE POINTED OUT.
HE THEREFORE PROPOSED INCREASING THE FEES FOR PROVISIONAL DRIVING LICENCES FROM $100 TO $300 AND FOR ANNUAL DRIVING LICENCES FROM $50 TO $150,
FOR A DRIVING TEST HE PROPOSED DOUBLING THE FEE FROM $150 TO $300, EXPLAINING THAT FAILURES AT THE FIRST ATTEMPT WERE FAIRLY COMMON AND TRIPLING +WOULD FAIRLY BE REGARDED AS EXCESSIVE+.
THESE NEW FEES WOULD YIELD AN ADDITIONAL $90 MILLION.
THE LICENCE FEES FOR THE ANNUAL REGISTRATION OF MOTOR VEHICLES WERE TAX-LOADED, AND THE LAST REVISION OF THE TAX- LOADING WAS CARRIED OUT IN 1979. BUT LAST MAY THE LICENCE FEES FOR PRIVATE CARS AND MOTOR CYCLES WERE INCREASED FOR TRANSPORT POLICY FEASONS.
/HS PROPOSED