WEDNESDAY, JULY 13, 1994
QUESTION: WILL THE GOVERNMENT RELEASE MORE
INFORMATION ABOUT THE
SCHEME BECAUSE THERE ARE SO MANY UNCERTAIN ASSUMPTIONS AND FIGURES?
GOVERNOR: WE WILL BE DELIGHTED TO PROVIDE MORE INFORMATION IF PEOPLE WANT IT. WE WILL BE DELIGHTED.. ASK THE QUESTIONS AND WE WILL PROVIDE YOU WITH THE ANSWERS. I'VE GIVEN YOU SOME MORE FIGURES TODAY.
QUESTION: TRIPARTIE
GOVERNOR, WHY THE ADMINISTRATION DROPPED THE OPTION OF CONTRIBUTION SCHEME, IS IT ONLY JUST THE REASON DUE TO THE POLITICAL PRESSURE THAT THE GOVERNMENT IS GOING TO FACE AND YOU DON'T WANT TO REPEAT THE LESSONS OF THE EUROPEAN COUNTRIES?
GOVERNOR: NO. WE ARE MAKING A SUBSTANTIAL CONTRIBUTION AND I THINK THAT HAS TO BE RECOGNISED. I'VE MENTIONED EARLIER THE CONTRIBUTION WILL BE ABOUT 35 PER CENT. THE FINANCIAL SECRETARY, I THINK, IS TALKING ABOUT THAT THIS AFTERNOON. BUT WHAT WE DON'T WANT TO DO IS TO FIND OURSELVES IN A SITUATION IN WHICH THE LIABILITY FOR THE TAXPAYER IS BOUNDLESS AND THAT'S THE PROBLEM WHICH DEVELOPED COUNTRIES EUROPE HAVE GOT THEMSELVES INTO IT, NOT A PROBLEM THAT, I THINK, I WANT TO SEE FACED BY THE PEOPLE OF HONG KONG.
IN
QUESTION: GOVERNOR, IF I CAN LEAVE THE PHILOSOPHICAL PART OF IT, IS IT JUST FAIR, IS IT FAIR FOR AN EMPLOYER TO PUT IN MONEY AND GET A TAX BREAK AND PASS IT ALONG TO THE CONSUMER AND GET IT BACK TWICE WHEREAS THE WORKER PUTS IT IN, DOESN'T GET A TAX BREAK AND HAS то CARRY A BURDEN, WHAT KIND OF DEAL IS THAT?
I
I
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ALL.
GOVERNOR: WELL, THE EMPLOYEE WHEN HE RETIRES OR WHEN SHE RETIRES, AM PLEASE TO SAY, GETS A PENSION TO WHICH THEY'VE CONTRIBUTED. AND REALLY DON'T THINK THAT THE FIGURES WE ARE TALKING ABOUT SHOULD REGARDED BY ANYBODY AS A BURDEN. IT'S WORTH REMEMBERING THAT IN LAST BUDGET, WE TOOK 420,000 PEOPLE OUT OF PAYING SALARIES TAX TOGETHER. WE LOWERED TAX FOR 1.3 MILLION. LOOK AROUND THE WORLD FIND ANY COMMUNITY WHERE THE TAXES ARE LOWER ON PEOPLE. IF WE BETTER SERVICES FOR THE ELDERLY, AND I THINK THAT THE PEOPLE OF KONG ARE CHARITABLE AND COMPASSIONATE INDEED THEN, WE HAVE TO RECOGNISE THAT THAT COSTS SOMETHING. WHAT IS GOOD ABOUT THIS SCHEME IS THAT COST IS VERY LOW.
?
AND
WANT HONG
QUESTION: YOU'VE MENTIONED THAT THE SCHEME WOULD NOT CREATE FINANCIAL BURDEN ON THE SAR GOVERNMENT, HOW ABOUT IN THE FUTURE THE SCHEME CANNOT FINANCE ITSELF, DOES IT MEAN THAT THE FINAL BURDEN WILL BE ON THE LABOUR FORCE? DOES IT MEAN THE CONTRIBUTION RATE
GOVERNOR: ALL OUR FIGURES WHICH WE'VE PUBLISHED AND ANY OTHERS WHICH YOU WANT DEMONSTRATE THAT THE SCHEME IS EMINENTLY AFFORDABLE FOR THE FORESEEABLE FUTURE FOR DECADES TO COME, BUT WE WILL OF COURSE WANT
TO DISCUSS IN THE COMMUNITY AND WE WILL WANT TO DISCUSS WITH CHINESE OFFICIALS THE CONSEQUENCES FOR THE SAR GOVERNMENT IN THE FUTURE IF ONE IS TALKING ABOUT A SCHEME AS BIG AS THIS, IF ONE IS TALKING ABOUT A PENSION SCHEME, OF COURSE WE HAVE TO ТАКЕ ACCOUNT OF OUR RESPONSIBILITIES TO THE FUTURE AND THE BURDENS THAT WILL BE CARRIED IN
THE FUTURE. BUT I JUST WANT TO MAKE THIS POINT AGAIN, HONG KONG HAS BEEN VERY WELL GOVERNED FOR DECADES, WE HAVEN'T LEFT HONG KONG WITH HUGE PROBLEMS AND HUGE BURDENS. WE HAVE SEEN THE DEVELOPMENT OF OUR EDUCATIONAL SERVICE, OF OUR WELFARE SERVICE, OF OUR HEALTH SERVICES AND SO ON, WE'VE SEEN INVESTMENT TO OUR INFRASTRUCTURE, ALL THAT HAS BEEN
DONE IN A PRUDENT AND SENSIBLE WAY AND WE ARE BRINGING THE SAME SENSE AND THE SAME PRUDENCE TO THE DISCUSSION OF SERVICES FOR THE ELDERLY. ONE MORE.
/QUESTION:
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