XN000022-1984-01-25 — Page 25

WEDNESDAY, JANUARY 25, 1984

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+THE INCREASED COST OF COLLECTING BORNE BY THE INDIVIDUAL AND THE POSSIBLE RESENTMENT FELT BY SOME PHILATELISTS, WHO ARE

OF COURSE, INTERESTED IN PRESERVING THE VALUE OF THEIR COLLECTIONS, CAN LEAD TO LESS SALES.

+SO, WE AIM TO OPTIMISE REVENUE IN THE LONGER TERM RATHER THAN ADOPTING A SHORT-TERM POLICY OF MAXIMISING PROFITS, WHICH IN THE END COULD BE COUNTER-PRODUCTIVE, HE EXPLAINED.

MR JACOBS ALSO SAID THAT THE POSTMASTER GENERAL FULLY RECOGNISED THE REVENUE POTENTIAL OF PHILATELIC SALES,

+ALTHOUGH, IN THE FINANCIAL YEAR ENDED MARCH 31, 1983, ALMOST 40 PER CENT OF THE POST OFFICE'S PROF IT CAME FROM THIS SOURCE, HE CONSIDERS THAT THERE IS UNDOUBTED SCOPE FOR IMPROVING THE MARKETING OF PHILATELIC PRODUCTS.

+ACCORDINGLY, HE IS ABOUT TO ENGAGE A FORMER MANAGER OF THE BRITISH POST OFFICE PHILATELIC BUREAU WITH A VIEW TO BOOSTING SALES EVEN FURTHER, HE SAID.

BILL SERVES TWO PURPOSES

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THE PUBLIC FINANCE (AMENDMENT) BILL 1984 SERVES TWO PURPOSES, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID IN MOVING THE SECOND READING OF THE BILL IN THE LEGISLATIVE COUNCIL TODAY.

THE FIRST PURPOSE IS TO ENABLE REFUNDS OR DRAWBACKS OF CERTAIN TYPES OF REVENUE TO BE MADE DIRECTLY FROM THE GENERAL REVENUE WITHOUT APPROPRIATION, IRRESPECTIVE OF THE YEAR OF COLLECTION.

THESE TYPES OF REVENUE ARE SPECIFIED IN ADMINISTRATIVE REGULATIONS ISSUED BY THE FINANCIAL SECRETARY.

AS EXAMPLES OF REFUNDS, SIR JOHN CITED IMPORT AND OTHER DUTIES COLLECTED BY THE COMMISSIONER OF CUSTOMS AND EXCISE AND TAX COLLECTED BY THE COMMISSIONER OF INLAND REVENUE.

SIR JOHN EXPLAINED THAT THIS WOULD AVOID ARTIFICIAL INFLATION OF EXPENDITURE FIGURES AND ACCORDS WITH PRACTICE IN PREVIOUS YEARS.

THE SECOND PURPOSE IS TO ENABLE A CONTROLLING OFFICER RESPONSIBLE FOR EXPENDITURE FROM A HEAD OR SUBHEAD IN THE ESTIMATES, TO DELEGATE TO A SUBORDINATE OFFICER THE POWER TO SIGN ALLOCATION WARRANTS.

SIR JOHN SAID THAT DUE TO THE LARGE NUMBER OF ALLOCATION WARRANTS USED FOR RELATIVELY MINOR SERVICES, IT IS PROPOSED THAT THE CONTROLLING OFFICER SHOULD NOT BE REQUIRED TO SIGN PERSONALLY IN EVERY CASE.

DEBATE ON THE BILL WAS ADJOURNED TO FEBRUARY 15.

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