8
WEDNESDAY, MARCH 31, 1993
THE
THAT THE
ON
STRESSED QUESTION OF THE EXCHANGE RATE, HE ADMINISTRATION REMAINS TOTALLY COMMITTED TO THE PRESENT SYSTEM.
THIS IS FOR GOOD REASONS, HE SAID.
"THE SYSTEM HAS BROUGHT HONG KONG INVALUABLE STABILITY.
"IN ANY CASE, HONG KONG'S INFLATION IS NOT CAUSED BY THE TO THE U.S. DOLLAR AT THE RATE OF US$1 TO HK$7,80,"HE ADDED.
LINK
THE
HE SAID THIS WAS DEMONSTRATED BY THE MARGINAL INCREASES IN
PARTICULARLY WHEN IMPORT PRICE INDEX (1.9% IN 1991 AND 0.2% IN 1992), COMPARED TO THE DOMESTIC INFLATION RATE.
то A DOMESTIC
EN THIS CONTEXT, REVALUING THE UK DOLLAR OR LINKING IT
ON IMPACT BASKET OF CURRENCIES COULD HAVE NO SIGNIFICANT INFLATION.
WE
SUFFER INFLATION
PRINCIPALLY BECAUSE OF THE RAPID
*
STRUCTURAL CHANGES IN HONG KONG'S ECONOMY.
BUDGET CONTRIBUTES TO MAINTAINING FAVOURABLE BUSINESS ENVIRONMENT : FS
THE
FAVOURABLE
SECRETARY,
BUDGET MADE A MAJOR CONTRIBUTION TO MAINTAINING A ENVIRONMENT FOR BUSINESS IN HONG KONG, THE FINANCIAL THE HON HAMISH MACLEOD, SAID IN THE TODAY WEDNESDAY).
LEGISLATIVE
COUNCIL
ALL
INVESTMENT PROPOSED IN THE INFRASTRUCTURE THE BUSINESS TO BE MORE EFFICIENT. THIS MUST ESPECIALLY BE TRUF OF
WHEN WINDING MAJOR ROAD TRANSPORT IMPROVEMENTS, MR MACLEOD SAID, THE RESUMED BUDGET DEBATE.
WILL
HELP
THE
UP
AND SOME SPECIFIC SECTORS WERE, OF COURSE, FURTHER ASSISTED PARTICULAR MEASURES IN THE BUDGET.
BY
THE STOCK MARKET WAS HELPED BY THE REDUCTION IN STAMP DUTY.
COSMETICS
BY
AND
THE TOURIST INDUSTRY WAS HELPED BY THE ABOLITION OF DUTY, BY THE INCREASED ASSISTANCE FOR THE TOURIST ASSOCIATION, AND
ΤΟ
TO THE THE DECISION
PROCEED WITH AN EXTENSION EXHIBITION CENTRE.
CONVENTION
"I AM BOPEFUL ALSO THAT, AS A RESULT OF THE REVIEW OF THE TRADE SOME DEVELOPMENT COUNCIL'S FINANCING ARRANGEMENTS, THERE WILL EMERGE ADDITIONAL SUPPORT FOR INDUSTRY,"
SIMPLE AND
HE FURTHERMORE,
SAID THE FACT THAT HE HTAD CONTINUED UNAMBIGUOUSLY ΤΟ SUPPORT THE BASIC PHILOSOPHY OF A LOW, PREDICTABLE TAX SYSTEM WAS VERY MUCH IN THE INTEREST OF BUSINESS.
GREAT
THIS BUDGET DOES A
РГ
"SO
THERE BE NO DOUBT LET DIRECTLY AND INDIRECTLY, FOR BUSINESS.
DEAL,
/THE FINANCIL