XN000022-1973-03-14 — Page 8

- 7

7"

Wednesday, March 14, 1973

In all his years on the Finance Committee, Mr. Szeto said, he had

grown accustomed to the requests for supernumerary posts, but was never once

called upon to deal with redundancy nor had there been any proposal for axing

the "dead woods."

In this respect, the report and recommendations of the efficiency

consultants commissioned to look into the working of the Administration was

keenly awaited, he added.

Commenting on the tax changes, Mr. Szeto said the Financial Secretary's

proposed boost to personal allowances was generally welcomed by the public,

but the abolition of life insurance allowance had "stirred up the hornets' nest."

Retrograde Step

"In the context of Hong Kong where social security provisions are

badly lacking, it is a retrograde step to withdraw this relief which has been

made available since 1947.

"Even in countries with comprehensive social security arrangements,

tax relief for life insurance is available."

He disagreed with the Financial Secretary that road congestion could

be solved by increasing three to four-fold the cost of becoming a notorist,

However, he supported this idea as a practical means to avert the tide

of aspirant motorists "who are flooding the Transport Department."

The revenue increase of $38 million in 1973-74, resulting from making

it more expensive to become a licensed driver, would be a "handsome amount,"

Mr. Szeto said.

He hoped that it would be used to "speed up the construction of multi-

storey carparks and automatic vehicles inspection centres,"

/8