28
WEDNESDAY, MAY 9, 1990
YRAR,
ΤΟ RESTORE
SIR PIERS SAID IN OUR MORE DIFFICULT CIRCUMSTANCES THIS CONSIDERED IT NECESSARY TO MAKE AN INTERIM ADJUSTMENT THE YIELD TO SOME EXTENT.
HE
THE EFFECT WILL ONLY BE TO RAISE THE SHARE OF RATES IN TERMS OF OVERALL RENTALS FROM 3.1 PER CENT TO 3.9PER CENT.
"IN MID-1986, IT STOOD AT 4.9PER CENT.
NOT REGARD
THE
"SINCE THOSE ON HIGHER INCOMES TEND TO LIVE IN MORE EXPENSIVE
AND SO ACCOMMODATION
PAY
WOULD MORE IN RATES, I ADJUSTMENT AS REGRESSIVE.
GENERAL
RATE AVERAGE OF
OF THE
"THE
OF 1.5PERCENTAGE POINTS IN INCREASE
THE AMOUNTS, IN DOLLAR TERMS, TO AN ADDITIONAL PAYMENT OF AN ONLY $20 PER MONTH PER HOUSEHOLD FOR THE ROUGHLY 50PER CENT POPULATION ACCOMMODATED IN PUBLIC HOUSING ESTATES," HE SAID.
SIR
SEVERELY
ON HIS PROPOSAL TO INCREASE THE DUTY ON HYDROCARBON OILS, PIERS SAID HE NOTED THAT IT HAD BEEN ATTACKED FOR IMPACTING ON THE LOWER PAID SECTIONS OF THE COMMUNITY,
IN
FORM
"INSOFAR AS
INCREASE PUBLIC BUS FARES ARE CONCERNED, THE FUEL COSTS, AFTER TAKING INTO ACCOUNT THE PUBLIC SUBSIDY IN THE OF THE EXISTING REBATE, IS NOT EXPECTED TO EXCEED AN AVERAGE PER CENT FOR KMB AND 1.7 PER CENT FOR CMB FARES, OR ROUGHLY THREE FOUR CENTS PER PASSENGER TRIP, HE SAID.
"
OF TWO
ΤΟ
TAX
SIR PIERS ALSO POINTED OUT THAT THE BURDEN OF HIGHER FUEL FOR TAXI DRIVERS HAD BEEN DEALT WITH BY AN APPROVED INCREASE IN FARES.
WHICH THE PIERS POINTED
BUY
ALCOHOL,
AS FOR THE REMAINING INDIRECT TAXES ON COMMODITIES MAN IN THE STREET WAS FACED WITH PAYING DIRECTLY, SIR OUT
"THERE IS NO OBLIGATION TO THAT A CHOICE EXISTED. TOBACCO OR NEW CARS, HE SAID.
"I
SIR PIERS NOTED THAT IN A LOW DIRECT TAXATION REGIME LIKE KONG, IT WAS IMPORTANT ALSO THAT APPROPRIATE OPPORTUNITIES WERE ΤΟ
REVENUE THROUGH FEES AND CHARGES FOR GOVERNMENT RAISE INCLUDING THOSE OPERATED AS PUBLIC UTILITY UNDERTAKINGS.
HONG TAKEN
SERVICES,
"WE HAVE ALWAYS ATTEMPTED TO ENSURE THAT THE COSTS OF PROVISION OF SERVICES ARE RECOVERED THROUGH THE CHARGES LEVIED.
"WE
MUST ALSO BE PREPARED TO USE FEES AND CHARGES FOR FISCAL PURPOSES WHERE THAT IS APPROPRIATE," HE SAID.
"BUT HAVING SAID THIS, WE SHALL CONTINUE TO TAKE CARE THAT WELL- GOVERNMENT SERVICES ARE NOT PRICED OUT OF THE REACH OF THE LESS OFF," SIR PIERS STRESSED.
CITING POLICY ON WATER CHARGES AS AN EXAMPLE, SIR PIERS SAID WATER IN HONG KONG WAS NOT A CHEAP COMMODITY TO PROVIDE.
/SIR PIERS
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