THURSDAY, OCTOBER 17, 1991
TO
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"THIS SHOULD ASSIST THE SITUATION, HE SAID.
HE ADDED THAT IN AUGUST A SERIES OF MEASURES HAD BEEN ANNOUNCED PURCHASING DETER SPECULATIVE ACTIVITY AND UNRULY BEHAVIOUR IN THE
OF UNCOMPLETED FLATS.
"THE
ADMINISTRATION IS FULLY AWARE OF THE NEED TO DISCOURAGE PROPERTY SPECULATION WHILST PROTECTING THE INTERESTS OF GENUINE HOME BUYERS," HE SAID.
ON MANPOWER SHORTAGES, MR NENDICK SAID SHORTAGES OF MANPOWER IN SOME
THUS CRUCIAL SECTORS HAD CREATED BOTTLENECKS IN THE ECONOMY AND IMPEDED ECONOMIC GROWTH, AND HAD ADDED ALSO TO INFLATIONARY PRESSURES.
THE GOVERNMENT WAS CONSIDERING AN EXPANSION OF THE CURRENT SCHEME TO IMPORT WORKERS FOR THOSE SECTORS WHERE LABOUR CONSTRAINTS WERE MOST ACUTE, THE SECRETARY SAID.
"THERE IS, THOUGH, NO QUESTION OF MASSIVE IMPORTATION. THE INTEREST OF LOCAL WORKERS WILL CONTINUE TO BE PROTECTED.
"FOR THE NEW AIRPORT AND RELATED PROJECTS, A SPECIAL LABOUR IMPORTATION SCHEME IS ALSO IN HAND, HE SAID.
"
MR NENDICK POINTED OUT THAT THERE COULD BE NO EASY OR QUICK
CURE TO THIS COMPLEX PROBLEM.
"ALTHOUGH THE PACKAGE OF MEASURES ΤΟ CURB INFLATIONARY EXPECTATIONS ANNOUNCED IN MAY HAS HAD SOME IMPACT, AND THE RATE FELL FROM A HIGH OF 13.9 PER CENT IN APRIL TO 12.7 PER CENT IN AUGUST, ARE STILL EXPERIENCING UNCOMFORTABLY HIGH INFLATION," HE NOTED.
WB
TAX
REGARDINO THE LEVEL OF PERSONAL ALLOWANCES AND THE PROFITS RATE, THE SECRETARY SAID THEY WERE AMONG THE TAXATION MATTERS REVIEWED EACH YEAR IN THE PREPARATION OF THE ANNUAL BUDGET.
STRESSING THAT BOTH ECONOMIC AND FISCAL CONSIDERATIONS HAD to BE TAKEN FULLY INTO ACCOUNT, HE SAID ANY CHANGE TO EXISTING LEVELS of CONCESSIONS OR ANY PARTICULAR TAX RATE COULD NOT THEREFORE BE CONSIDERED IN 19OLATION.
"WE HAVE TO ASSESS CAREFULLY THE EFFECT SUCH A CHANGE WOULD HAVE ON TAXATION REVENUE, AS THIS WILL IN TURN AFFECT THE EXTENT TO WHICH WE CAN FUND IMPORTANT POLICY PROGRAMMES, HE SAID.
AS AN ASIDE TAKING IN ISOLATION, MR NENDICK SAID, INCREASING THE LEVEL OF PERSONAL ALLOWANCE FOR SALARIES TAX MIGHT, PARADOXICALLY, ITSELF BE INFLATIONARY.
MORE DISPOSABLE INCOME IN THE HANDS OF TAX-PAYERS COULD
HE ADDED.
INCREASE CONSUMPTION LEVELS,
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