11
WEDNESDAY, APRIL 26, 1989
PROBLEMS "I SUGGEST THAT THE ADMINISTRATION SHOULD STUDY THESE
TO FIND OUT
FOR AND TRY
WHETHER PEOPLE ARE BUYING PROPERTIES
DESIRABLE IN INVESTMENT OR FOR SPECULATION, AND DECIDE WHETHER IT IS
TAX THE LONG-TERM INTEREST OF HONG KONG TO INTRODUCE A PROPERTY GAINS ON TRANSACTIONS RELATING TO PROPERTIES AS WELL AS SHARES OF COMPANIES WHICH ARE USED PRIMARILY AS VEHICLES FOR HOLDING PROPERTIES.
SUCH A "I AM NOT SUGGESTING THAT
TAX SHOULD BE INTRODUCED THIS IS A MEASURE RIGHT NOW, FOR THERE ARE WIDER IMPLICATIONS. BUT
A NECESSARY WHICH HAS FOUND FAVOUR IN OTHER COUNTRIES, AND IT MAY BE
MARKET IF IT GETS WEAPON TO USE IN ORDER TO COOL DOWN THE PROPERTY ANY HOTTER. HE SAID,
I
LIVE ANOTHER EFFECTIVE WAY TO MAKE HONG KONG A BETTER PLACE TO
WAS CONVENOR OF THE IN WAS TO IMPROVE THE ENVIRONMENT, MR LEE, WHO OMELCO STANDING PANEL ON ENVIRONMENTAL AFFAIRS, SAID.
WHILE OBSERVING THAT MORE AND
INCLUDING PEOPLE. MORE THOSE OPERATING LARGE FACTORIES, INDUSTRALISTS, PARTICULARLY
WERE AGAINST POLLUTION, HE WAS CONCERNED PREPARED TO JOIN IN THE FIGHT
BUSINESS THAT SOME OF THE SMALL FACTORY-OWNERS WOULD BE DRIVEN OUT OF
TO SWITCH TO IF, FOR EXAMPLE, THEY HAD TO SPEND MORE MONEY IN ORDER LOW-SULPHUR FUELS.
FIGHT
"ONE WAY TO ALLEVIATE THEIR PROBLEM IS TO GIVE THEM MORE
BECAUSE IN MANY AREAS, OUR BUT I AM AGAINST POLLUTION IS ALREADY LONG OVER-DUE.
THAT
TIME. AGAINST
SHOULD PRESS ON 'I THEREFORE SUGGEST THAT THE ADMINISTRATION
THE WHITE PAPER ABOUT TO BE WITH THEIR PROGRAMME AS CONTAINED IN
BEFALL SOME OF PUBLISHED: AND TRY TO CUSHION THE HARDSHIP WHICH MAY
ALLOWING THEM OR SMALLER FACTORY-OWNERS
TAX OPERATORS BY DEDUCTIONS FOR CAPITAL OUT-LAYS FOR NEW EQUIPMENTS IN ORDER TO WITH NEW ANTI-POLLUTION REGULATIONS," MR LEE SAID.
OUR
COMPLY
OF AN ENVIRONMENTAL FURTHERMORE, HE SUGGESTED THE SETTING UP
AS FROM THE FUND WITH CONTRIBUTIONS FROM THE ADMINISTRATION AS WELL
LOW-INTEREST LOANS OR EVEN INTEREST-FREE INDUSTRY ITSELF, SO THAT
WHO NEED OPERATORS OR NEW EQUIPMENT OR TO TAKE
LOANS COULD
GIVEN TO BE
FACTORY-OWNERS FINANCIAL ASSISTANCE IN ORDER TO INSTALL OTHER NECESSARY MEASURES TO COMPLY WITH ANTI-POLLUTION REGULATIONS.
TURNING
TO
THE
OF SALES ΤΟ BROADEN
MR
THE
WAS
VERY
LEE SAID TAX, QUESTION INTENTION
THE TAX BASE FINANCIAL SECRETARY'S UNOBJECTIONABLE, AS THE LION'S SHARE OF OUR REVENUE COMES FROM A SMALL NUMBER OF TAX-PAYERS AND MANY OF THEM WERE LEAVING HONG KONG.
FINANCIAL THE
SECRETARY
NOT
SAYING
"AS I UNDERSTAND IT.
IS A SALES TAX EITHER IN THE THAT HE
INTRODUCE DEFINITELY WILL
HE WOULD FORESEEABLE FUTURE OR AT ALL; FOR WHAT HE IS SAYING IS THAT
EVEN IF THAT
IT ВЕ INTRODUCED IN THE CONTINUE TO STUDY IT, AND
H HE NOTED. DISTANT FUTURE, IT WILL ONLY COME AS PART OF A PACKAGE,
AS THE