31
WEDNESDAY, MARCH 6, 1991
SAID.
"THE EFFECT, IF ANY, ON BUS FARES SHOULD BE MINIMAL," SIR PIERS
IT
то
$1
FINANCIAL THE
THE SECRETARY REMINDED MEMBERS OF
LEGISLATIVE COUNCIL THAT IN THE CONTEXT OF THE INTRODUCTION OF UNLEADED PETROL,
BE USED THAT THE DUTY RATE ON MOTOR SPIRIT WOULD WAS ANNOUNCED ACHIEVE A PRICE DIFFERENTIAL IN FAVOUR OF UNLEADED PETROL OF ABOUT A LITRE.
"A
RESOLUTION
PUT TO
THIS RESULT
TO INTRODUCE THE MEASURE WILL BE COUNCIL BEFORE THE END OF THE MONTH, BUT IT IS NOT EXPECTED TO
IN ANY ADDITIONAL REVENUE.
"THE PRICE OF DIESEL WILL NOT BE AFFECTED, HE SAID.
ALCOHOLIC BEVERAGES AND ALCOHOL
"
RATES
THE FINANCIAL SECRETARY PROPOSED TO INCREASE THE SPECIFIC ON ALL ALCOHOLIC BEVERAGES AND ALCOHOL BY 15 PER CENT,
DUTY
THE AD VALOREM RATES WOULD REMAIN UNCHANGED.
INCREASE
IN
REAL
SIR PIERS SAID OVERALL, THE RESULT WAS AN TERMS AND WAS, HE BELIEVED, APPROPRIATE GIVEN THAT ALCOHOL CONSUMPTION. REMAINED A MATTER OF CHOICE.
TAKING ACCOUNT OF CONSUMER RESISTANCE, THE ADDITIONAL YIELD WAS ESTIMATED TO BE $120 MILLION.
REVENUE
TOBACCO
TOBACCO
THE FINANCIAL SECRETARY PROPOSED TO
200 BY
PER
CENT WITH A PARTICULAR ATTRACTIVENESS OF SMOKING TO YOUNG PEOPLE.
INCREASE VIEW
TO
THE DUTY ON REDUCING
THE
THE DUTY ON INCREASE
THE FINANCIAL SECRETARY SAID WHEN HE INCREASED TOBACCO BY 25 PER CENT LAST YEAR, HE MADE IT CLEAR THAT THE WAS FOR FISCAL PURPOSES, HOWEVER, IT HAD BEEN PUT TO HIM PERSUASIVELY, THAT FOR HEALTH REASONS A HEFTY I
INCREASE WAS NOW JUSTIFIED.
CONSUMER,
THIS WOULD
TO
THE IF
FULL COST WAS PASSED ON TO THE RAISE THE PRICE OF A PACKET OF 20 CIGARETTES FROM THE PRESENT $12 $13 TO ABOUT $20.
BETWEEN WHICH HE
THE FINANCIAL SECRETARY ALSO REMOVED THE DIFFERENTIAL THE RATE FOR CHINESE PREPARED TOBACCO AND SMOKING TOBACCO, SAID WAS NO LONGER APPROPRIATE AND HAD GIVEN RISE TO ALLEGATIONS HONG KONG HAD GIVEN PREFERENTIAL TREATMENT TO A PARTICULAR IMPORTED TOBACCO.
THAT FORM OF
THE ESTIMATED
ADDITIONAL
REVENUE YIELD
AFTER
ALLOWING
FOR
CONSUMER RESISTANCE WOULD BE ABOUT $1.9 BILLION.
/COSMETICS