23
AND THESE SOCIAL
FINANCIAL
THE
"RECOGNISING
PRINCIPLES, GOVERNMENT WILL CONTINUE TO SUPPORT THE HOUSING PROGRAMME WITH FINANCE TO THE AUTHORITY WHERE NECESSARY, AND TO SUBSIDISE RENTAL HOUSING WITH THE PROVSION OF LAND ON CONCESSIONARY TERMS.
THE ACHIEVE SIR HAMISH SAID THE GOVERNMENT WAS DETERMINED TO TARGETS OF THE LONG-TERM HOUSING STRATEGY BY PROVIDING LAND FOR PUBLIC RENTAL HOUSING AT NIL COST AND SUBSIDISED LAND FOR THE HOME OWNERSHIP SCHEME, CURRENTLY AT LESS THAT ONE FIFTH OF FULL MARKET VALUE.
HE SAID THE COST TO THE TAXPAYERS OF THIS FREE AND LAND FOR NEXT YEAR ALONE WOULD AMOUNT TO ABOUT $21 BILLION.
SUBSIDISED
GOVT RETAINS CASH-BASED ACCOUNTS
THE FINANCIAL SECRETARY, THE HON SIR HAMISH MACLEOD, SAID TODAY (WEDNESDAY) THAT THE GOVERNMENT WOULD RETAIN THE EXISTING CASH-BASED
OF MOVING TO SYSTEMS CLOSER TO THOSE ACCOUNTS INSTEAD PRIVATE SECTOR.
USED IN
THE
**I WOULD LIKE TO TRY TO ADDRESS CONCERNS THAT OUR EXISTING ACCOUNTS
THE PROVIDE INSUFFICIENT INFORMATION ABOUT THE FULL COST OF RESOURCES CONSUMED BY THE GOVERNMENT'S VARIOUS ACTIVITIES," SIR HAMISH SAID.
"WE PROPOSE, THEREFORE, ON AN EXPERIMENTAL BASIS. TO PREPARE
COST STATEMENTS WHICH WILL HELP US TO SEE THE FULL
OF SUPPLEMENTARY SELECTED ACTIVITIES.
"THESE WILL ALSO BE USEFUL IN HELPING US TO MAKE A JUDGEMENT ON MERITS THE
OF PROVIDING SUCH ADDITIONAL FINANCIAL INFORMATION ABOUT GOVERNMENT ACTIVITIES AS A WHOLE," HE SAID.
INCOME TAX CONCESSIONS TO BENEFIT MORE
* * * *
THE FINANCIAL
SECRETARY, THE HON SIR HAMISH MACLEOD, TODAY (WEDNESDAY) PROPOSED A NUMBER OF INCOME TAX CONCESSIONS WHICH WOULD ENABLE ABOUT 420,000 TAXPAYERS, OR A QUARTER OF THE TOTAL, TO DROP OUT OF THE TAX NET ENTIRELY.
MOVING THE SECOND READING OF THE APPROPRIATION BILL IN THE LEGISLATIVE COUNCIL, SIR HAMISH SAID THE PROPOSED CONCESSIONS WOULD RESULT IN A FURTHER 1.13 MILLION TAXPAYERS PAYING LESS TAX AND THE NUMBER OF STANDARD RATE TAXPAYERS WOULD DROP BY 60 PER CENT.
THE VARIOUS PROPOSALS WERE:
*/
THE BASIC