XN000022-1972-03-01 — Page 2

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Wednesday, March 1, 1972

The full rate hourly charge at Government multi-storey car parks to be raised from 60 sents to $1, with a minimun charge of $2 instead of $1.50;

The charge for cheap period parking at Government multi- storey car parks to be raised from 40 cents to 50 cents, with a minimum charge of $1.

The Financial Secretary told Council that his Budget proposals for 1972-73 would have the net effect of reducing the estimated surplus of $70.3 million to $46.9 million.

He also said he proposed to introduce shortly a bill to amend the Estate Duty Ordinance to enable small estates under $100,000 to be dealt

with summarily.

Mr. Haddon-Cave warned motorists they faced the prospect of further increases in car parking charges in future years. Charges for on-street parking, he added, also needed to be raised.

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Turning to the future, the Financial Secretary said he had two

proposals to make for 1973-74.

These are:

A new basis of assessment for salaries tax in which asscachent will be made on income earned during the current year;

A reduction in the present rate charge of

Landlords will 17 per cent to 15 per cent.

only be able to claim refund of half of the rate, instead of the whole rate, charged on unoccupied premises.

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