16
THURSDAY, APRIL 27, 1989
AS FOR
THE
PUBLIC REVENUE STRATEGY, DIRECT MAINTAINING LOW
TAX WAS ESSENTIAL DEVELOPMENT AS A LOW-TAX INTERNATIONAL CITY.
LAU MR
BELIEVED THAT
FOR THE
CONTINUOUS
"WE SHOULD THEREFORE EXPLORE NEW SOURCES OF REVENUE WHICH LESS AFFECTED BY THE CYCLICAL MOVEMENTS OF OUR ECONOMY AND ALSO DEPENDENT ON OUR DIRECT TAX.
"PERSONALLY I THINK THE SALES TAX IS A GOOD SOURCE, BUT KNOW THERE ARE MANY PROBLEMS WHICH ARE DIFFICULT TO OVERCOME, IT IS LEVIED AT WHOLESALE OR RETAIL LEVEL," MR LAU SAID.
HE BELIEVED THAT UNLESS WE COULD RESOLVE ALL TAX WOULD NOT BE ACCEPTABLE TO THE PUBLIC.
ARE
LESS
I DO WHETHER
PROBLEMS, SALES
PUBLIC UTILITIES REVENUE AND CROSS HARBOUR
MR LAU SAID OVER THE YEARS, MANY PRIVILEGED UNDERTAKINGS HAD BEEN ENJOYING COMPOUND GROWTH BOTH IN PROFIT, SUCH AS OUR LOCAL AIRLINE, CONTAINER TERMINALS, TUNNEL AND POWER STATIONS.
FROM NORMAL
CHARGES, FEE AND ENJOYED ANY SHARE OF
THROUGH PROFIT
THE EQUITY
HE NOTED THAT APART
HAD NOT GOVERNMENT PARTICIPATION EXCEPT THE CROSS-HARBOUR TUNNEL.
TREND SIMILAR.
THESE OF
"SINCE WE ARE CONFIDENT IN OUR FUTURE ECONOMIC GROWTH,
SHOULD CONTINUE PRIVILEGED PUBLIC UNDERTAKINGS GROWTH.
"GOVERNMENT SHOULD SHARE THE BENEFITS OF THROUGH EQUITY PARTICIPATION," HE ADDED.
THEIR
PROSPERITY
SAY,
MR LAU SAID ONE WOULD IMAGINE THAT IF THE GOVERNMENT HAD, 25 PER CENT OF EQUITY IN OUR LOCAL AIRLINE COMPANY OR OTHER PRIVILEGED UNDERTAKINGS, REVENUE FROM THIS SOURCE COULD BE VERY SUBSTANTIAL.
"I AM SURE THERE WILL BE MANY ARGUMENTS FOR AND AGAINST TAPPING THIS SOURCE OF REVENUE.
ARE
WITH BY
"SOME MAY ARGUE THAT THESE PRIVILEGED PUBLIC UNDERTAKINGS
WHICH SHOULD ENTERPRISE'
NOT BE
INTERFERED
'PRIVATE GOVERNMENT.
MR
LAU SAID HIS SUGGESTION WAS AIMED WITHOUT MANAGEMENT INTERFERENCE.
AT
INVESTMENT
RETURNS
ΤΟ
ALWAYS
"AS THERE ARE NEW PROJECTS SUCH AS THE NEW AIRPORT WE NEED
TAKING
OPPORTUNITIES EQUITY PARTICIPATION AND
CONSIDER AVAILABLE.
BY THE
ARE
"MAY I SUGGEST THAT THIS SOURCE OF REVENUE BE CAREFULLY STUDIED
CENTRAL POLICY UNIT WHEN GOVERNMENT GRANTS OR
OPERATING
PRIVILEGES
TO THE EXISTING PUBLIC
RENEWS OTHER
UNDERTAKINGS,"
MR
LAU
CONCLUDED.
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