XN000022-1973-03-14 — Page 5

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Wednesday, March 14, 1973

He again called for a review and contended that the abolition

of this particular tax would further stimulate capital investment in

Hong Kong. At any rate, it would be comparatively easy to devise an

alternative source of revenue should there by any serious outfall arising

from the abolition, he added.

He also stressed the desirability of further measures to cool down

the stock market and urged the Government to announce its intentions in

this regard as soon as possible.

Referring to the employment of consultants to advise on the

reorganisation of Government administration and administrative procedures,

Mr. Woo said the Unofficial Members strongly supported the move.

"Antiquated Set-Up"

The consultants would advise what steps should be taken to update

the "antiquated set up", particularly in the Colonial Secretariat, which

was no longer able to keep up with the severe strains made upon it.

"Above all," said Mr. Woo, "there has to be a devolution of

responsibilities away from the Colony Secretariat and the Financial Secretary

and the creation of 'ministries' headed by high-powered officers with

ultimate responsibility."

Touching on the estimated expenditure for the coming financial

year, he asked for an assurance that funds would be made available as and

when required in order to attain the aims in the medical, education, housing

and social welfare fields.

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