10
WEDNESDAY, MAY 10, 1989
RE-INTRODUCTION HE SAID THE
OF
CLAWBACK THE
IN TO BE ALLOWANCE
ALSO
1987 MORE FULLY
AN ADDITIONAL ENABLED THE BENEFIT OF FOCUSSED ON THE LESS AFFLUENT THAN WOULD OTHERWISE HAVE BEEN POSSIBLE.
SOME SORT OF TAXATION OF PROVISION MR JACOBS SAID THE
STOP THE INCENTIVES, AS SOME MEMBERS SUGGESTED, WAS UNLIKELY TO HELP BRAIN DRAIN,
UNLIKELY "WHILST I SHARE THEIR CONCERN ABOUT THIS ISSUE, IT IS
REVISIONS OF THE THAT FEASIBLE ADJUSTMENTS TO THE STANDARD RATE, OR
THOSE WHO ARE SALARIES TAX STRUCTURE, WOULD SIGNIFICANTLY INFLUENCE
CONSIDERABLY CONSIDERING LEAVING HONG KONG, GENERALLY FOR PLACES WITH
HE SAID. HIGHER RATES OF TAX THAN WE HAVE HERE,
"I
SAID
ON THE ABOLITION OF INTEREST TAX, THE FINANCIAL SECRETARY
PROFITS TAX REVENUE HE HAD BEEN CAUTIONED ABOUT A POTENTIAL LEAK OF ARISING FROM IT.
THE MATTER HAD BEEN CAREFULLY THAT ASSURANCE AN HE GAVE CONSIDERED BEFORE THE FINAL DECISION WAS TAKEN.
COST
ΤΟ REVENUE THE "IN ARRIVING AT INTEREST TAX, ACCOUNT WAS TAKEN OF THE LIKELY
** HE SAID. LEAKAGE WHICH MIGHT OCCUR,
OF OF THE ABOLITION LEVEL OF PROFITS TAX
THE EXISTING LAW COULD APPROPRIATE
MR JACOBS SAID HE WAS CONFIDENT THAT CONTAIN THE LEAKAGE, BUT ADDED THAT IF IT COULD NOT DO SO AMENDING LEGISLATION WOULD BE INTRODUCED AT AN EARLY DATE.
THE COMMISSIONER "I MIGHT ADD THAT CONTINUE TO MONITOR THE SITUATION CAREFULLY,
OF
INLAND HE SAID.
REVENUE
WILL
CLOSE WATCH ON GROWTH OF CIVIL SERVICE
THE
PIERS HON
JACOBS, SAID
TODAY CHECK ON
THE FINANCIAL SECRETARY, (WEDNESDAY} HE WAS CONSCIOUS OF THE NEED TO KEEP A VIGILANT THE GROWTH OF THE CIVIL SERVICE.
DEBATE ON THE BUDGET IN THE WINDING UP THE SECOND READING
3.9 PER CENT LEGISLATIVE COUNCIL, MR JACOBS SAID THE GROWTH RATE OF
ACTUAL GROWTH WAS FOR 1989-90 WAS A PROJECTION AND, INEVITABLY, THE
OF PROJECTS, SUBJECT TO THE STATE OF THE LABOUR MARKET, THE PROGRESS AND OPERATIONAL CONSIDERATIONS.
"IT IS THEREFORE BY NO MEANS CERTAIN THAT ALL BE CREATED AND FILLED DURING THE YEAR.
THE POSTS WILL
NEVERTHELESS,