XN000022-1977-03-31 — Page 23

22

THURSDAY, MARCH 31, 1977

+REDUCTIONS WILL BE ENJOYED BY A PROPORTION OF RATEPAYERS IN MOST CLASSES, BUT MAINLY BY THOSE IN SMALL FLATS, SHOPS AND MISCELLANEOUS COMMERCIAL PREMISES, FACTORIES AND STORAGE PREMISES AND BY THE RATEPAYERS IN SOME 1,000 OR SO PRE-WAR PREMISES.+

THE FINANCIAL SECRETARY THEN WENT ON TO EXPLAIN HIS THIRD PROPOSAL: REDUCTION IN THE GENERAL RATE IN THE NEW TERRITORIES IN A WAY AND TO AN EXTENT COMPARABLE TO THAT PROPOSED FOR THE URBAN AREAS.

UNDER THE PROPOSAL, THE GENERAL RATE PERCENTAGE FOR TSUEN WAN/KWAI CHUNG FOR 1977-78 WOULD BE REDUCED FROM 18 TO 11 PER CENT AND THE CORRESPONDING GENERAL RATE PERCENTAGE FOR THE SEVEN AREAS, NAMELY YUEN LONG, TAI PO, SHA TIN, TUEN MUN, CLEARWATER BAY ROAD, LUEN WO MARKET/ON LOK TSUEN AND SHEK WU HUI, BROUGHT INTO ASSESSMENT FROM APRIL 1 LAST, WOULD BE SEVEN PER CENT.

THE RATE CHARGE FOR THE NEW AREA SAI KUNG BROUGHT INTO ASSESSMENT FROM APRIL 1, THIS YEAR WOULD BE 5.5 PER CENT.

MR. HADDON-CAVE SAID THE TOTAL YIELD FROM THE GENERAL RATES FOR 1977-78, APPLYING THESE NEW PERCENTAGES TO THE NEW RATEABLE VALUES, WAS ESTIMATED AT $767 MILLION.

THE FINANCIAL SECRETARY ALSO TOLD THE COUNCIL THAT THE GOVERNOR HAD SIGNED THE NECESSARY REVENUE PROTECTION ORDER UNDER THE REVENUE PROTECTION ORDINANCE, THEREBY GIVING EFFECT TO THE SCHEME OF RELIEF FOR RATEPAYERS PROPOSED IN HIS BUDGET.

UNDER THE SCHEME, THE RATES PAYABLE BY A RATEPAYER IN 1977-78, IRRESPECTIVE OF INCREASES IN RATEABLE VALUES, SHOULD NOT INCREASE BY MORE THAN 33-1/3 PER CENT OF THE RATES PAID BY HIM IN 1976-77..

IN ADDITION, THE RATES PAYABLE BY A RATEPAYER IN

1978-79 SHOULD NOT INCREASE BY MORE THAN 33-1/3 PER CENT OF THE RATES PAID BY HIM IN 1977-78.

/23