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REVISION OF LEVIES ON VEHICLE AND DRIVING LICENCES APPROVED
THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) APPROVED AN INCREASE IN THE LEVIES ON VEHICLE AND DRIVING LICENCES SO THAT SUFFICIENT INCOME WILL ACCRUB TO THE TRAFFIC ACCIDENT VICTIMS ASSISTANCE FUND FOR DISBURSEMENT TO CLAIMANTS.
EFFECT ON
UNDER THE NEW RATES, WHICH WILL COME INTO
APRIL 1 FROM NEXT YEAR, THE ANNUAL LEVY ON VEHICLE LICENCES WILL BE INCREASED
ANNUAL LEVY $30 TO $48, WHEREAS THE
ON DRIVING LICENCES WILL BK RAISED FROM $10 TO $16.
THIS WAS STATED BY THE SECRETARY FOR HEALTH
THE THE TRAFFIC ACCIDENT HON ELIZABETH WONG, WHEN MOVING A MOTION UNDER
ON THE REVISION OF VICTIMS (ASSISTANCE FUND) ORDINANCE VEHICLE AND DRIVING LICENCES.
AND
WELFARE,
LEVIES ON
EXPIRY DATE,
MRS WONG THEY WOULD ALSO BE NEXT YBAR FOR A
NOTING THAT THE PRESENT LAW ALLOWED ADVANCE RENEWAL OF DRIVING AND VEHICLE LICENCES FOUR MONTHS BEFORE THEIR SAID TO PREVENT AVOIDANCE OF THE REVISED RATES, APPLICABLE TO ADVANCE RENEWALS MADE BEFORE APRIL 1 VALIDITY PERIOD COMMENCING ON OR AFTER THAT DATE.
ACCIDENT
WAS TO MITIGATE
REFERRING TO THE TRAFFIC
VICTIMS ASSISTANCH (TAVA) SCHEME, MRS WONG SAID ITS OBJECTIVE
THE FINANCIAL HARDSHIP WHICH MIGHT RESULT FROM DEATH OR INJURY IN TRAFFIC ACCIDENTS.
PROVIDE
IMMEDIATE
ΤΟ "IT IS A WELFARE MEASURE DESIGNED
CASH ASSISTANCE TO THE VICTIMS OF A TRAFFIC ACCIDENT, OR TO HIS DEPENDANTS
REGARD EITHER TO THE MEANS IN THE CASE OF DEATH, WITHOUT
OF THE RESPECT OF THE CAUSE OF THE FAMILY OR TO ANY ELEMENT OF FAULT IN ACCIDENT.
DRIVING
A
AND GENERAL
"THE SCHEME IS FINANCED BY CONTRIBUTIONS FROM THREE SOURCES:
LEVY ON
LICENCES LEVY ON VEHICLE LICENCES, A REVENUE," SHE SAID.
THE SURPLUS
MRS WONG POINTED OUT THAT UNTIL 1985-86, ANNUAL REVENUE OF
THUS GENERATED A TAVA FUND EXCEEDED ANNUAL EXPENDITURE AND EACH YEAR.
THE POSITION
WAS, HOWEVER, RESULTING IN ANNUAL DEFICITS.
REVERSED FROM 1986-87 ONWARDS,
"THIS WAS MAINLY DUE TO THE INCREASE IN TAVA PAYMENT THE ONE HAND, AND THE GENERAL DOWNTURN OF BANK INTEREST RATES OTHER.
RATES ON
ON THE
་
WITHDRAWAL "THE SURPLUS OF THE FUND WAS FURTHER REDUCED BY THE
SUPPLEMENTARY TAVA SCHEME, OF $83.2 MILLION IN 1986 TO FINANCE THE SHE SAID.
OF
A PACKAGE EXPENDITURE OF THE FUND WOULD INCREASE FURTHER WHEN
THE FIRST QUARTER OF IMPROVEMENT TO THE SCHEME IS INTRODUCED IN NEXT YEAR, MRS WONG SAID.
BE
THE LEVIES ARE "THE LATEST PROJECTION INDICATES THAT IF
COMPLETELY DEPLETED BY INCREASED, THE FUND WILL
1992-93,"
ADDED.
NOT
SHE
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