2
TUESDAY, NOVEMBER 8, 1994
FS:
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J
SAY
I WOULDN'T SAY
COURSE INFLATION OF
IS MENTIONED, CERTAINLY, IT IS A CONCERN OF THEIRS AND OF MINE BUT I WOULDN'T IT IS TOP OF THE LIST. I THINK VERY MUCH THIS YEAR IT IS MORE A MATTER OF LOOKING HOW TO FINE TUNE THINGS. I MEAN I AM GENERALISING BECAUSE I DON'T WANT TO PUT WORDS IN PEOPLE'S MOUTHS. SOME MEMBERS YOU WILL BE ABLE TO GUESS WHICH HAVE SLIGHTLY MORE FUNDAMENTAL VIEWS ABOUT THE BALANCE OF TAXATION, WHETHER IT SHOULD FALL MORE ON COMPANIES OR MORE ON INDIVIDUALS, BUT I LEAVE THAT FOR THEM TO SPEAK OUT ON, BUT GENERALISING, I WOULD SAY RATHER REALISTIC; NOT EXPECTING LARGE CONCESSIONS LIKE LAST YEAR; AND REALLY LOOKING AT FINE TUNING AND WHETHER THE PARTICULAR SECTORS NEED A BIT MORE HELP.
QUESTION:
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AN
COULD ANY OF THE PROPOSALS THAT HAVE BEEN MADE HAVE IMPACT ON YOUR DELIBERATIONS? IS THERE ANYTHING THAT YOU COULD PINPOINT THAT YOU THINK, "YES, THEY HAVE MADE A GOOD POINT"?
FS:
I'M CERTAINLY NOT GOING TO PINPOINT IT NOW BECAUSE THEN I WOULD BE REVEALING WHAT IS IN THE BUDGET BUT I CAN SAY THIS, THAT WE WILL BE GIVING A LOT OF THOUGHT TO THE SUBMISSIONS WHICH HAVE BEEN MADE TO ME. I MUST SAY, BECAUSE WE HAVE NOW BEEN DOING THIS FOR, I THINK, THREE YEARS, IT HAS GOT BETTER AND BETTER ORGANISED EVERY YEAR AND WE NOW TEND TO GET A WRITTEN SUBMISSION FROM THE MAIN PARTIES WHICH HAS BEEN WELL THOUGHT OUT AND WHICH WE CAN THEN GO AWAY AND DISCUSS AND THAT IS WHAT I WILL BE DOING OVER THE NEXT FEW WEEKS.
I HAVE SAID TO LEGCO MEMBERS THAT WE ARE STILL OPEN FOR SUBMISSIONS UP TO THE 16TH, SO WE HAVE GOT ANOTHER WEEK, BUT I THINK ACTUALLY, MOST OF THEM HAVE ALREADY GIVEN ME THEIR VIEWS.
QUESTION:
AFTER THE SIGNATURE OF THE AGREEMENT ON THE AIRPORT AND THE AIRPORT RAILWAY, WHAT CAN WE EXPECT THE CAPITAL EXPENDITURE OF THE COMING FINANCIAL YEAR? WILL THAT BE BLOOMING?
FS:
WELL, I DON'T THINK IT HAS GREAT SIGNIFICANCE SENSE THAT, OF COURSE, IN THE MEDIUM RANGE FORECAST WE HAVE FOR THE LEVELS OF EQUITY INJECTION WHICH HAVE NOW BEEN AGREED.
IN THE ALLOWED
I MEAN
I MADE THAT CLEAR IN THE LAST BUDGET SPEECH, SO THERE SHOULDN'T BE ANY GREAT SURPRISES IN TERMS OF THOSE VERY LARGE SUMS OF MONEY. THEY ARE ALREADY ALLOWED FOR IN THE MEDIUM RANGE FORECAST AND OF COURSE THAT WILL BE REFLECTED ON INTO THE ESTIMATES.
QUESTION:
AND THERE COMES THE ELECTION YEAR
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THE ADMINISTRATION
IS FACING THE PRESSURE OF THE CALLS FOR TAX REDUCTION?
FS:
OF COURSE YOU ARE RIGHT THAT WHEN ELECTIONS ARE IN THE OFFING THERE TENDS TO BE MORE PRESSURE FOR MORE THINGS, WHETHER IT IS EXPENDITURE OR REVENUE CONCESSIONS BUT AS I SAID, I THINK, ACTUALLY, I AM RATHER PLEASED THAT THIS YEAR THAT IS NOT SHOWING ANY SIGNS OF FEEDING INTO MEMBERS WISHES, THEY ARE RATHER REALISTIC AND NOT EXPECTING CHANGES OF THE LEVEL OF LAST YEAR.
QUESTION:
YOU SAID THAT YOU EXPECTED THAT PROPERTY TRANSACTIONS WOULD BE FEWER FEWER TRANSACTIONS 30 TO WHAT EXTENT DO YOU THINK THE STAMP DUTY WILL BE SMALLER?
/FS.