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THURSDAY, MARCH 28, 1985
EARLIER IN HIS SPEECH, SIR ROGER NOTED THAT THE UNOFFICIAL MEMBERS TOOK MANY HOURS GOING OVER THE DRAFT ESTIMATES PRIOR TO THE FOUR PUBLIC HEARINGS HELD IN THE LEGISLATIVE COUNCIL CHAMBER.
+THEY ASKED 221 ORAL AND 359 WRITTEN QUESTIONS WITH OVER 200 SUPPLEMENTARIES ARISING FROM REPLIES.
+1 SHOULD ADD - THERE WERE MORE QUESTIONS WHICH MY COLLEAGUES WANTED TO ASK BUT FOR VARIOUS REASONS INCLUDING TIME CONSTRAINTS, THEY WILL PURSUE THESE IN ANOTHER MANNER AND AT ANOTHER TIME,+ HE SAID.
REVENUE RESOLUTIONS PASSED.
*****
THE LEGISLATIVE COUNCIL TODAY PASSED THREE RESOLUTIONS PROPOSE J BY THE FINANCIAL SECRETARY, SIR JOHN BREMRIDGE. FOR INCREASES IN BETTING DUTY, AIR PASSENGER DEPARTURE TAX AND BUSINESS REGISTRATION TAX WITH EFFECT FROM APRIL 1.
RECAPPING DETAILS OF THE RESOLUTIONS, SIR JOHN SAID THE ONE ON BETTING DUTY PROVIDED FOR THE PERCENTAGE OF TOTAL BETS ALLOCATED AS PRIZE MONEY TO BE REDUCED TO 83 PER CENT FOR STANDARD BETS AND 77 PER CENT FOR EXOTIC BETS RESPECTIVELY.
IT INCREASES THE DUTY ON STANDARD BETS FROM NINE PER CENT TO NINE AND A HALF PER CENT, WITH THE INCREASE TO BE SHARED EQUALLY BETWEEN THE JOCKEY CLUB AND THE PUNTERS, AND THE DUTY ON EXOTIC BETS FROM 15 PER CENT TO 16 PER CENT, WITH 0.6 PER CENT OF THE INCREASE TO BE BORNE BY THE PUNTERS AND 0.4 PER CENT BY THE JOCKEY CLUB.
UNDER ANOTHER RESOLUTION, THE AIR PASSENGER DEPARTURE TAX ON PASSENGERS AGED 12 YEARS OR ABOVE IS INCREASED FROM $100 TO $120 WHILE THAT ON CHILDREN BETWEEN THE AGES OF TWO AND 12 FROM $50 TO $60.
THE RESOLUTION ON BUSINESS REGISTRATION FEES INCREASES THE FEE FROM $350 TO $500.
+ THE TOTAL ESTIMATED ADDITIONAL REVENUE AS A RESULT OF THE INCREASES PROVIDED FOR IN THE THREE RESOLUTIONS IS $265 MILLION PER ANNUM, + SIR JOHN SAID IN MOVING THE MOTION.
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