WEDNESDAY, JANUARY 8, 1986
HE SAID AFTER CLOSE EXAMINATION HE PROPOSED THAT THE PERCENTAGE PRESCRIBED FOR URBAN COUNCIL RATES SHOULD BE INCREASED BY 0.5 PER CENT IN ORDER TO PROVIDE THE COUNCIL WITH YIELDS OF THIS ORDER.
+THIS WILL RESULT IN A TOTAL RATES PERCENTAGE IN THE URBAN COUNCIL AREA OF 6 PER CENT, MADE UP OF URBAN COUNCIL RATES OF 3.5 PER CENT AND GENERAL RATES OF 2.5 PER CENT.+
AS FOR THE PROVISIONAL REGIONAL COUNCIL, SIR JOHN SAID IT HAD BEEN ESTIMATED THE NEW REGIONAL COUNCIL'S FINANCIAL REQUIREMENTS AS $744 MILLION IN 1986-87 AND AS $880 MILLION IN 1987-88, AFTER TAKING INTO ACCOUNT REVENUE FROM FEES AND CHARGES.
+ THE PROJECTED YIELD FROM THE CURRENT NEW TERRITORIES RATES OF 5.5 PER CENT OF $746 MILLION AND $827 MILLION IN THESE TWO YEARS IS INSUFFICIENT TO MEET THESE REQUIREMENTS.
+ THEREFORE PROPOSE THAT THE RATES PERCENTAGE IN THE REGIONAL COUNCIL AREA ALSO BE INCREASED BY 0.5 PER CENT TO 6 PER CENT AND THAT THE REGIONAL COUNCIL SHOULD RECEIVE ALL THE REVENUE FROM THE INCREASED RATES PERCENTAGE.+
SIR JOHN SAID THE PROPOSED INCREASE OF 0.5 PER CENT IN THE TOTAL RATES PERCENTAGE IN BOTH THE URBAN COUNCIL AND THE REGIONAL COUNCIL AREAS WAS NOT EXPECTED TO CAUSE HARDSHIP TO RATEPAYERS.
+WE HAVE CONDUCTED A CAREFUL STUDY OF WHAT IS INVOLVED. PUBLIC HOUSING TENANTS WILL ON AVERAGE FACE INCREASES OF $1.70 TO $6.40 PER MONTH IN 1987-88, THAT IS NO INCREASE IN 1986-87.
+FOR RATEPAYERS OF SMALL DOMESTIC UNITS WITH A NET AREA OF LESS THAN 100 SQUARE METRES, THE AVERAGE INCREASE WILL BE ABOUT $10 AND $13 PER MONTH IN 1986-87 AND 1987-88 RESPECTIVELY.
+FOR DOMESTIC UNITS OF OVER 100 SQUARE METRES, THE AVERAGE INCREASE WILL BE ABOUT $56 PER MONTH FOR THE TWO YEARS,+ SIR JOHN SAID.
DEBATE ON THE BILL WAS ADJOURNED.
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BILL PROVIDES FOR NEW TDC MEMBERS ***
THE HONG KONG TRADE DEVELOPMENT COUNCIL (AMENDMENT) BILL 1985 WOULD PROVIDE FOR REPRESENTATION OF THE CHINESE GENERAL CHAMBER OF COMMERCE, HONG KONG, ON THE TRADE DEVELOPMENT COUNCIL, THE ACTING SECRETARY FOR TRADE AND INDUSTRY, THE HON MICHAEL SZE, SAID TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE BILL, HE SAID THAT WHEN THE COUNCIL WAS CREATED IN 1966, PROVISION WAS INCLUDED FOR APPROPRIATE REPRESENTATION ON ITS COUNCIL OF RELEVANT MAJOR ORGANISATIONS CONCERNED WITH HONG KONG'S EXTERNAL TRADE AND ITS OVERSEAS IMAGE.