XN000022-1974-03-14 — Page 12

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Thursday, March 14, 1974

MORE BRICKBATS FOR VEHICLE TAX PROPOSALS

Hr. James Wu Calls For Increase In Bank Licence Fees

The Financial Secretary's proposals to restructure vehicle licence

fees and parking charges came under fire again today during the resumed

Budget debate in the Legislative Council.

The attack came from the Hon. James Wu who described the proposals

as "too hard and too soon".

He was particularly irritated by the proposal to impose a fee

on every endorsement permitting people to drive different classes of

vehicle.

Mr. Wu said:

"Obviously little thought is given to the fact

that at the very most only two driving licence endorsements (for motor

cycles and private cars) might not have been held by an occupational

driver.

Whilst it is appropriate to charge what is to them a minimal

registration fee for doctors, accountants and architects to practise their

profession, it would be grossly unfair to levy an even larger fee (if he had

enough endorsements) for a driver to practise his trade for a living

which is never done for craftsmen of other trades."

Mr. Wu pointed out that managing the finance of a government

was different from managing the same of a family. He quoted an

authoritative economist as saying that "growing debt (public) holds

little peril for a dynamically growing economy."

"The underlying