XN000022-1980-03-11 — Page 4

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TUESDAY, MARCH 11, 1980

THE HON WONG LAM WILL ASK THE GOVERNMENT ON WHAT STEPS ARE BEING TAKEN TO MONITOR THE SUPPLY OF DRUGS IN GOVERNMENT HOSPITALS AND CLINICS TO ENSURE THERE IS NO SHORTAGE AT ANY TIME OF THE YEAR.

ON TRADE, THE HON WONG PO-YAN WILL ASK WHAT STEPS THE GOVERNMENT IS TAKING TO PERSUADE THE JAPANESE GOVERNMENT TO LIFT ITS DISCRIMINATION AGAINST HONG KONG IN EXCLUDING SEVEN ITEMS OF HONG KONG MERCHANDISE FROM ITS GENERALISED SCHEME OF PREFERENCE.

THE OTHER TWO QUESTIONS CONCERN A STUDY TO AIR-CONDITION AND MODERNISE THE AMBULANCE FLEET, AND THE HEUNG YEE KUK ELECTIONS.

A MOTION SEEKING TO REVISE THE FARE STRUCTURE OF THE STAR FERRY COMPANY WILL BE INTRODUCED AT TOMORROW'S SITTING,

THE MOTION TO AMEND THE +STAR+ FERRY COMPANY (SERVICES) ORDINANCE, WILL BE MOVED BY THE SECRETARY FOR THE ENVIRONMENT, THE HON DEREK JONES.

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TAX EXEMPTION ON INTEREST RAISED

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INTEREST PAYABLE BY LICENSED BANKS, CERTAIN PUBLIC UTILITIES AND THE GOVERNMENT AT RATES OF UP TO 10-1/2 PER CENT PER ANNUM WILL BE EXEMPTED FROM INTEREST TAX FROM TODAY (TUESDAY), A GOVERNMENT SPOKESMAN ANNOUNCED.

HE SAID THIS REPRESENTS AN INCREASE OF 1-1/4 PER CENT IN THE EXEMPTION LIMIT AND FOLLOWS THE ANNOUNCEMENT BY THE EXCHANGE BANKS' ASSOCIATION ON SATURDAY (MARCH 8) THAT THE RATE OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE SIMILARLY RAISED TO 10-1/2 PER CENT ALSO WITH EFFECT FROM TODAY.

SECTION 28 OF THE INLAND REVENUE ORDINANCE WAS AMENDED TODAY BY A PUBLIC REVENUE PROTECTION ORDER SIGNED THIS MORNING BY THE GOVERNOR, TO RAISE FROM 9-1/4 PER CENT TO 10-1/2 PER CENT THE CEILING ON THE POWER OF THE FINANCIAL SECRETARY TO INCREASE THE RATE UP TO WHICH INTEREST IS EXEMPTED FROM INTEREST TAX.

THE PUBLIC REVENUE PROTECTION ORDER, AND THE NOTICE SIGNED BY THE FINANCIAL SECRETARY, WERE PUBLISHED IN AN EXTRAORDINARY GAZETTE TODAY.

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