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THURSDAY, APRIL 21, 1988
STUDY THE MATTER A LOCAL-ORIENTED PEOPLE TO JOIN
HE SUGGESTED THAT A COMMISSION BE SET UP TO AND TO CHANGE THE EXPATRIATE-ORIENTED PACKAGE TO PACKAGE, THEREBY NOT ONLY ENCOURAGING MORE LOCAL GOVERNMENT SERVICE BUT ALSO ENCOURAGING AS MUCH AS POSSIBLE THEIR CHILDREN TO STUDY AND WORK IN HONG KONG.
ON THE QUESTION OF A SALES TAX, MR LEE SAID IT WAS EVIDENT THAT THE IMPOSITION OF ANY SALES TAX WOULD HURT THE POOR MORE THAN THE RICH. AND IT WAS THEREFORE A TAX WHICH SHOULD BE IMPOSED ONLY AS A LAST RESORT.
BUT HE GAVE QUALIFIED SUPPORT ΤΟ THE FINANCIAL SECRETARY'S PROPOSAL TO CONTINUE WITH HIS RESEARCH INTO THIS AREA OF TAXATION.
HAD
FIRSTLY, THERE WERE ONLY VERY FEW PEOPLE IN HONG KONG WHO TO PAY ANY TAX, AND SECONDLY, THERE WAS A RATHER SERIOUS EMIGRATION PROBLEM. AND MOST OF THE RMIGRANTS CAME FROM THIS SMALL BRACKET OF TAXPAYERS.
SUPPOSE THIS EMIGRATION TIDE WERE TO CONTINUE, THEN IN THE NOT TOO DISTANT FUTURE, THERE MAY COME A TIME WHEN THERE WILL NOT BE MANY TAXPAYERS LEFT IN HONG KONG, HE SAID.
AND IF THE ECONOMY SHOULD CEASE TO BE VIBRANT AS NOW, THE GOVERNMENT MIGHT FACE A VERY DIFFICULT PROBLEM OF HAVING EITHER то INCREASE TAXATION WHICH WOULD CAUSE AN EVEN HEAVIER BURDEN ON THE VERY FEW TAXPAYERS LEFT IN HONG KONG OR TO REDUCE THE SOCIAL WELFARE PROGRAMMES NOW UNDERTAKEN BY THE GOVERNMENT.
Z
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IN THAT SITUATION, AND AS A LAST RESORT, IT MIGHT BECOME NECESSARY FOR THE SALES TAX TO BE IMPOSED, HE SAID.
WHEN THE FINANCIAL SECRETARY'S MOTIVES WERE PROPERLY UNDERSTOOD, WHAT HE WAS PROPOSING WAS LAUDABLE. HE WAS MORE THAN MAKING PREPARATION FOR Å POSSIBLE RAINY DAY,
DOING NOTHING MR LEE ADDED.
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