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WEDNESDAY, MARCH 3, 1993
"ABOVE THAT LEVEL, I PROPOSE THAT ESTATE DUTY BE PAYABLE AT
6% ON ESTATES OF BETWEEN $5 MILLION AND $6 MILLION; 12% FOR ESTATES BETWEEN $6 MILLION AND $7 MILLION AND 18% ON ESTATES VALUED AT OVER $7 MILLION.
"THIS CONCESSION WILL COST $50 MILLION IN MILLION OVER THE PERIOD UP TO 1996/97 HE SAID.
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1993/94 AND $220
RATES
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MR MACLEOD SAID MEMBERS MIGHT BE RELIEVED BUT NOT SURPRISED TO KNOW THAT HE DID NOT INTEND THIS YEAR TO PROPOSE ANY INCREASE IN THE GENERAL RATES PERCENTAGE CHARGE.
"NEVERTHELESS, RATES ARE SIGNIFICANT, BOTH AS A RELATIVELY PROGRESSIVE TAX AND A STABLE SOURCE OF REVENUE. IT IS IMPORTANT THAT RATES ACTUALLY CHARGED ARE ADJUSTED REGULARLY TO REFLECT THE CHANGING RENTAL VALUES OF PROPERTY OF DIFFERENT TYPES AND IN DIFFERENT LOCATIONS.
"OUR ROUTINE, THREE-YEARLY RATES REVALUATION WILL BE CONDUCTED THIS YEAR AND COME INTO EFFECT ON APRIL 1 1994. I ALSO INTEND TO PROPOSE A SUITABLE RATES "CAP" TO ALLOW TIME FOR THOSE RATE-PAYERS WITH PARTICULARLY HIGH INCREASES TO ADJUST TO THE NEW LEVELS OF CHARGE. I BELIEVE THAT THIS WILL MEET THIS COUNCIL'S CONCERNS, HE SAID.
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FUEL, ALCOHOL AND TOBACCO
MR MACLEOD SAID HE DID NOT PROPOSE TO GO BEYOND WHAT WOULD BE NECESSARY TO MAINTAIN THE REAL VALUE OF DUTIES ON FUEL, ALCOHOL AND TOBACCO AFTER ALLOWING FOR INFLATION. HE THEREFORE PROPOSED AN INCREASE OF 9.5% IN THE SPECIFIC DUTY RATES ON THESE COMMODITIES.
TAX-LOADED FEES AND GOVERNMENT UTILITY CHARGES
MR MACLEOD SAID REGULAR REVISION OF GOVERNMENT UTILITY CHARGES AND TAX-LOADED FEES WAS ESSENTIAL TO MAINTAIN THEIR REAL VALUE AND TO AVOID THE NEED TO MAKE UP REVENUE SHORTFALLS FROM OTHER SOURCES.
BUT, AS LAST YEAR, NECESSARY INCREASES WOULD BE PHASED IN DURING THE COURSE OF 1993/94 TO MINIMISE THE IMPACT ON THE PUBLIC OF INFLATION. THEY WILL NOT THEREFORE BE IMPLEMENTED AS PART OF THE BUDGET PACKAGE.
IMPLEMENTATION
MR MACLEOD SAID HIS PROPOSALS ON DUTIABLE COMMODITIES WOULD COME INTO EFFECT TODAY UNDER AN APPROPRIATE PUBLIC REVENUE PROTECTION ORDER. PROPOSALS ON SALARIES TAX ALLOWANCES AND BANDS, ESTATE DUTY, ENTERTAINMENTS TAX AND STAMP DUTY, AND CONCESSIONS IN RESPECT OF DISABLED DRIVERS WOULD COME INTO EFFECT ON APRIL 1 THIS YEAR.
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