WEDNESDAY, MARCH 28, 1984
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TURNING TO THE PROPOSED CROSS HARBOUR TUNNEL TAX, HE QUOTED THE FINANCIAL SECRETARY'S STATEMENT THAT IT WAS A TRANSPORT MEASURE THE PRIMARY FUNCTION OF WHICH WAS TO ALLEVIATE CONGESTION.
HE OBSERVED THAT IT WAS STATED IN THE CROSS HARBOUR TUNNEL COMPANY LIMITED ANNUAL REPORT 1983 THAT THE GENERALLY DIFFICULT ECONOMIC CONDITIONS COMBINED WITH THE SEVERE FISCAL MEASURES INTRODUCED BY THE GOVERNMENT IN 1982 TO CURB THE GROWTH IN PRIVATE VEHICLE OWNERSHIP HAD RESULTED IN A DROP IN VEHICLES USING THE TUNNEL.
HE QUOTED THE REPORT AS SAYING THAT IN THE MEDIUM TERM AT ANY RATE THE COMPANY IS NOT ANTICIPATING A MARKED INCREASE IN DEMAND AND THUS THE CONGESTION AT TUNNEL PORTALS IS NOT EXPECTED TO WORSEN SIGNIFICANTLY+.
FATHER MCGOVERN SAID, +1 DO NOT INTEND TO DEBATE ON THE SUBJECT HERE, BUT IT IS CLEAR THAT THE TRANSPORT NATURE OF THE MEASURE DOES NOT EXIST AND THEREFORE THERE IS NO REASON FOR THIS TAX. +
+ IF THE FINANCIAL SECRETARY IS SO UNWISE AS TO GO AHEAD WITH THE TUNNEL TAX PROPOSAL I NOW DECLARE MY INTENTION OF OPPOSING
IT, HE ADDED.
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BUDGET DISPLAYS OPTIMISM AND CONFIDENCE PETER WON G
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THE 1984-85 BUDGET HAS BEEN CAREFULLY DESIGNED TO REFLECT ALL THE THREE ESSENTIAL FUNCTIONS OF FISCAL POLICY TO RAISE REVENUE, TO REDUCE INEQUALITIES OF WEALTH AND INCOME, AND TO ACHIEVE ITS EFFECT ON THE MANAGEMENT OF THE ECONOMY, THE HON PETER C. WONG SAID IN THE LEGISLATIVE COUNCIL TODAY.
+ WOULD LIKE TO PAY TRIBUTE TO THE FINANCIAL SECRETARY FOR THE VERY SKILFUL WAY IN WHICH HE HAS PROPOSED TO SKIN THE NOT SO LEAN AND YET NOT SO FAT HONG KONG CAT, HE SAID.
LOOKING AT THE ESTIMATED EXPENDITURE FOR 1984-85, MR WONG SAID THAT AT $37.3 BILLION, IT REPRESENTED ONLY A MODERATE INCREASE.
HE POINTED OUT THAT THE DEFICIT OF $3.6 BILLION WAS UNCOMFORTABLY HIGH, ADDING, A MAIN CONTRIBUTORY FACTOR FOR THE DEFICITS IS GOVERNMENT'S POLICY TO MAINTAIN GENERAL SERVICES AT ACCEPTABLE LEVELS, WHILE ON THE SOCIAL FRONT, MODERATE INCREASES ARE PROPOSED.+
HE SHARED THE VIEW THAT THE BUDGET WAS A DEMONSTRATION OF GOVERNMENT'S OPTIMISM AND CONFIDENCE IN THE TERRITORY'S FUTURE.
NOTING THE