THURSDAY, MARCH 21, 1991
"THE IMPORTANT THING IS TO GET THE RULES
DOES NOT SUFFER,"
HE SAID.
RIGHT SO HONG KONG
RISE IN TOBACCO SPEECH, THE
BUDGET
ASKED ABOUT COMPLAINTS OVER THE 200 PER CENT TAX, SIR PIERS SAID AS HE HAD POINTED OUT IN THE INCREASE WAS FOR HEALTH REASONS.
IS DAMAGING
"THERE IS A GREAT DEAL OF EVIDENCE TO SAY THAT IT TO HEALTH," HE SAID. "IF THEY REDUCE SMOKING OR EVENTUALLY GIVE IT UP, THEY WILL FEEL BETTER."
THE TAX
A PACKET OF IS IN CANADA, THAT IT IS MORE
INCREASES, AFTER EVEN "AND FRANKLY, CIGARETTES IN HONG KONG IS STILL MUCH CHEAPER THAN IT CHEAPER THAN IT IS IN THE UNITED KINGDOM. I ACCEPT EXPENSIVE THAN IN SOME OTHER PLACES IN THE REGION, BUT PLACES IN THE REGION ARE NOW BEGINNING TO LOOK AT WHAT DOING AND THEY WOULD PROBABLY BE PUTTING UP THEIR DUTY.
I'VE HAD MORE LETTERS
FRANKLY OTHER HONG KONG IS
OVER THAT MEASURE
BEEN I'VE
FINANCIAL ARE ALSO PRAISING US,
OF CONGRATULATION EVER DONE SINCE THAN OVER ANYTHING ELSE I'VE SECRETARY. AND THE YOUNG PEOPLE OF HONG KONG BECAUSE THEY WANT TO BE HEALTHY.'
"
IN REPLY TO A QUESTION ABOUT SALES GOVERNMENT IS OPEN FOR IDEAS.
TAX, SIR PIERS
SAID
THE
POINT DO NEED
"WE ARE DOING A CERTAIN AMOUNT OF PLANNING, AND THE MAIN I'VE BEEN TRYING TO MAKE THROUGHOUT MY FIVE YEARS IS THAT WE SOME FORM OF BROAD-BASED CONSUMPTION TAX.
"WELL, I'VE EXPRESSED
THE PREFERENCE
BASIS OF ON THE BECAUSE I THINK STUDIES SO FAR FOR TAX AT THE WHOLESALE LEVEL EASIER TO ADMINISTER, AND I THINK IT'S PROBABLY FAIRER, AND THERE LESS POINTS OF COLLECTION OF THE TAX.
DISCUSSIONS
LEAVE
CONTINUE,
WE MAY THINK "BUT FRANKLY AS OUR
THAT TO MY SUCCESSOR. OTHER ARRANGEMENTS. I'LL HAVE TO IMPORTANT THING IS TO MAKE OUR TAX BASE MORE STABLE SO THAT AS WE TO CURTAIL DIPS IN THE ECONOMY FROM TIME TO TIME, WE DON'T HAVE EXPENDITURE. THAT'S ALL IT'S ABOUT. IT'S NOT ABOUT FINDING OTHER
HE SAID. OF TAKING MORE MONEY FROM YOU,'
"
OUR IT'S
ARE
OF
THE
GET
OUR
WAYS
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