25
WEDNESDAY, MARCH 7, 1990
THE
LEVIED
BY
AND
FINANCIAL SECRETARY SAID RATES ON PROPERTY WERE APPLYING A PERCENTAGE CHARGE TO THE RATEABLE VALUE OF PROPERTIES WERE CLEARLY ONE OF THE MORE STABLE SOURCES OF REVENUE.
I
"THE VALUE OF RATES WHEN EXPRESSED AS A PROPORTION OF ACTUAL YEARS. RENTS CHARGED FOR PROPERTIES HAS FALLEN CONSIDERABLY IN RECENT
HAVE THEREFORE DECIDED TO MAKE AN ADJUSTMENT TO THE PERCENTAGE CHARGE," HE SAID.
PRESENT
RATES
SIR PIERS EXPLAINED THAT THE PROPOSED AVERAGE INCREASE IN FOR A SMALL PRIVATE FLAT WOULD BE ABOUT $40 A MONTH, AND FOR A FLAT ABOUT $200.
THE
RATES
LARGE
FINANCIAL
SECRETARY NOTED THAT IN THE
PAST.
THE HOUSING
HAD
TENANTS INITIALLY ABSORBED INCREASES IN RATES FOR
OF
AUTHORITY
PUBLIC HOUSING.
"THE AUTHORITY'S RENTS, WHICH INCLUDE AN ELEMENT FOR RATES.
FOR IT WILL BE NORMALLY REVISED EVERY TWO YEARS ON A ROLLING CYCLE.
IN A SIMILAR THE AUTHORITY TO DECIDE WHETHER TO ABSORB THE RATES MANNER ON THIS OCCASION." HE SAID.
ARE
"THE
AVERAGE COST OF THE INCREASE FOR A HOUSING AUTHORITY WILL BE AROUND $20 A MONTH," HE ADDED.
FLAT
INTENTION 1991-92 FROM
WAS A WAS NOT OF ITSELF DESIGNED TO
SIR PIERS POINTED OUT THAT THE GOVERNMENT'S ANNOUNCED TO REVISE ALL RATEABLE VALUES WITH EFFECT SEPARATE EXERCISE AND COMPLETELY INCREASE RATES REVENUE.
"ITS
PURPOSE IS
THE TO ENSURE THAT THE BURDEN OF EQUITABLY SPREAD BETWEEN DIFFERENT CLASSES OF RATEPAYER.
CHARGE IS
IF, AS IS LIKELY, THIS RESULTS IN "CONSEQUENTLY
A SUBSTANTIAL INCREASE IN RATEABLE VALUES, THE PERCENTAGE CHARGES FOR THAT YEAR WILL LIGHT OF BE LOOKED AT AGAIN BUT, LET ME EMPHASISE. LOOKED AT IN THE
THAT THE REVENUE NEEDS
AT COUNCILS OF THE GOVERNMENT AND THE TWO TIME." HE SAID.
INCREASES IN VARIOUS FEES
THE FINANCIAL SECRETARY. THE HON SIR PIERS JACOBS, TODAY PROPOSED TO INCREASE BUSINESS REGISTRATION FEES, COMPANY REGISTRATION FEES, BANK AND DEPOSIT-TAKING COMPANY LICENCE AND REGISTRATION FEES, VEHICLE AND DRIVING LICENCE FEES, AND PASSENGER EMBARKATION AND BERTHING FEES.
SIR PIERS OUTLINED THE PROPOSED INCREASES IN PRESENTING HIS
BUDGET.
/BUSINESS REGISTRATION