XN000022-1973-03-15 — Page 4

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Thursday, March 15, 1973

Referring to stamp duty on bills of exchange and remittances,

Mr. Lee suggested that it be abolished so as to enable the proposed market

to be operated competitively.

He also suggested that the 20 cents stamp duty on cheques

be dispensed with as it was no longer levied in most other countries.

Earlier, Mr. Lee joined other Unofficial Councillors to compliment

the Financial Secretary for his "most acceptable budget."

He pointed out that since Mr. Haddon-Cave took office 21 months

ago "the world has seen many important economical, political and financial

changes all of which have in one way or another affected Hong Kong."

But Mr. Lee said he must compliment the Financial Secretary

for still being able to maintain a sound economic position with strong

reserves for Hong Kong.

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