13
THURSDAY, MARCH 28, 1985
CONCEDING THAT NO TWO ORGANISATIONS, HOWEVER SIMILAR, WOULD BE ABLE TO RUN ON AN EXACT BUDGET, SHE SUGGESTED THAT ALL ESTABLISHMENTS BE ALLOWED TO GENERATE MORE FUNDS TO MEET THEIR OWN EXPENDITURE BASED ON THEIR OWN ABOVE STANDARD SERVICES, PROVIDED THE EXTRA CHARGES FELL WITHIN A CERTAIN SET AND PEASONABLE LIMIT.
THIS WOULD GIVE MUCH HOPE FOR FLEXIBILITY TO THE ESTABLISHMENTS AND TO SOME EXTENT, ALLOW THE PUBLIC TO CHOOSE THE INSTITUTIONS ON A VALUE FOR MONEY BASIS, SHE ANALYSED.
**ITH ADEQUATE PROVISIONS BUILT IN THE STANDARD FUNDING SYSTEM, PROVIDENT FUNDS SHOULD BE THE RESPONSIBILITY OF THE INSTITUTIONS AND NOT GOVERNMENT, DR IP CONCLUDED.
REAL LUXURIES SEEN AS REVENUE SOURCE
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PRIORITY SHOULD BE GIVEN TO THE REAL LUXURIES IN LIFE IF MORE REVENUE SOURCES ARE TO BE CONSIDERED, THE HON CHAN YING-LUN SAID TODAY (THURSDAY).
+ IF MORE SOURCES OF REVENUE WERE TO BE TAPPED, I WOULD SUGGEST THAT CONSIDERATION BE GIVEN TO LUXURY ITEMS SUCH AS IMPORTED HIGH-QUALITY CLOTHING, ACCESSORIES, FURNITURE, JEWELS AND WATCHES, LUXURIOUS CARS AND PLEASURE CRAFT, MR CHAN SAID AT THE ANNUAL BUDGET DEBATE IN THE LEGISLATIVE COUNCIL.
+ I UNDERSTAND THAT THE PROFIT MARGIN OF THESE COMMODITIES 13 GENERALLY PRETTY HANDSOME AND THE TAX TO BE IMPOSED IS LIKELY TO BE READILY ABSORBED BY BOTH THE WHOLESALERS AND RETAILERS AS WELL AS THE CONSUMERS, HE SAID.
IN ANY CASE, MR CHAN SAID, FOR PEOPLE WHO PREFERRED THE FINEST IMPORTED DESIRABLES, I DO NOT THINK A REASONABLE AMOUNT OF TAX AND REVENUE FOR GOVERNMENT WILL HURT AT ALL.
+AN ADDITIONAL TAX OF ONE THOUSAND DOLLARS LEVIED ON A LUXURIOUS CAR IS ALREADY EQUIVALENT TO THE COLLECTION OF TWENTY CENTS EACH FROM SAY, 5 000 BOXES OF MILK, BUT THE DISTINCTION IS OBVIOUS, HE SAID.
ALTHOUGH INDIRECT TAXATION WAS MORE DESIRABLE THAN DIRECT TAXATION AND WAS LESS PAINFUL TO BEAR, IT MUST BE KEPT IN MIND THAT INDIRECT TAXATION MEASURES MUST NOT BE ALLOWED TO HARM THE LIVELIHOOD OF OUR COMMUNITY, MR CHAN SAID.
WHILST THE INCREASES PROPOSED BY THE FINANCIAL SECRETARY WERE FAIRLY MODEST AND THAT THE CONSUMER SHOULD BE ABLE TO TAKE THEM IN THEIR STRIDE IN DUE COURSE, MR CHAN CAUTIONED THAT THERE MUST BE A LIMIT AS TO WHAT SHOULD BE MORE HEAVILY TAXED AND WHAT SHOULD BE THE MAXIMUM LIMIT.
/FOR EXAMPLE