WEDNESDAY, MARCH 2, 1988
20
I
LATER
TO
THOSE
"IN ACCORDANCE WITH OUR GENERAL POLICY OF COST RECOVERY, PROPOSE THAT WHEN THE CHINA FERRY TERMINAL IN CANTON ROAD OPENS THIS YEAR, THE PASSENGER EMBARKATION FEE OF $15 BE EXTENDED DEPARTING FROM THIS NEW TERMINAL," HE SAID.
TERMINAL
WOULD
VESSELS USING THE MACAU
HE ADDED THAT BERTHING FEES AT THE CHINA FERRY THEN BE SET AT THE SAME LEVEL AS THOSE FOR FERRY TERMINAL.
"THESE FEES
LINE WITH
THE
WILL BE REVIEWED REGULARLY IN EXISTING POLICY OF RECOVERING THE FULL OPERATING COSTS," HE SAID.
ADDITIONAL REVENUE YIELD FROM HE ESTIMATED THE TOTAL FRES IN 1988-89 TO BE $6 MILLION, AND $12 MILLION IN A FULL YEAR.
THESE
FEES AND CHARGES, IN RESPECT OF POSTAL AND TELECOMMUNICATION
OF MODERATE INCREASES IN MR JACOBS PROPOSED TO IMPLEMENT A PACKAGE
THE NEXT FINANICAL YEAR THESE FEES AND CHARGES DURING
TO RESTORE
THEIR
IN 1988-89 REAL
ADDITIONAL REVENUE YIELD ESTIMATED AT $23 MILLION, AND $70 MILLION IN A FULL YEAR.
THE VALUE.
IS
A NUMBER OF то CERTAIN
FEES OTHER
AND CHARGES, SERVICES PROVIDED BY THE THE TRADE
SCHEDULED
FOR
MR JACOBS ADDED THAT INCLUDING THOSE IN RELATION IMMIGRATION DEPARTMENT, THE MEDICAL AND HEALTH DEPARTMENT,
WATER SUPPLIES DEPARTMENT AND THE THEIR NORMAL REGULAR REVIEW IN 1988.
WERE
DEPARTMENT,
"FROM THESE SOURCES, I EXPECT ADDITIONAL REVENUE OF FULL MILLION IN 1988-89, EQUIVALENT TO $145 MILLION IN SAID.
ABOUT $81 YEAR, HE
TAX BURDEN OF MIDDLE-INCOME GROUP EASED
THE FINANCIAL SECRETARY, THE HON PIERS JACOBS TODAY (WEDNESDAY) PROPOSED A NUMBER OF TAX RELIEF MEASURES FOR PERSONAL-TAX PAYERS WHICH WOULD BE OF PARTICULAR ASSISTANCE TO THOSE IN THE MIDDLE-INCOME GROUP.
THE PROPOSED CONCESSIONS WERE:
*
FIRST, TO REDUCE THE STANDARD TAX RATE FROM 16.5 PER CENT TO 15.5 PER CENT;
SECONDLY, TO PROVIDE BOTH A LOWER INITIAL TAX FIVE PER CENT AT PRESENT TO THREE PER CENT GRADUAL PROGRESSION THROUGH THE VARIOUS MARGINAL RATES AS INCOME INCREASES. FURTHERMORE, THE POINT AT WHICH THE MAXIMUM 25 PER CENT MARGINAL RATE WOULD BEGIN ΤΟ WOULD BE RAISED BY $10,000;
RATE
+
FROM
AND A MORE
APPLY
A THIRDLY, TO
Page 30Page 31