XN000022-1985-03-27 — Page 21

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WEDNESDAY, MARCH 27, 1985

+AS REGARDS VOCATIONAL TRAINING AND TERTIARY EDUCATION, AN IMPRESSIVE PROGRAMME IS IN TRAIN, EXPANSION WILL CONTINUE SO THAT HOPEFULLY THE APPARENTLY INSATIABLE DEMAND WILL BE MET IN THE NOT TOO DISTANT FUTURE, HE SAID,

MR WONG POINTED OUT THAT THE EDUCATION COMMISSION, IN

THE NEXT PHASE OF ITS WORK, WOULD HAVE TO REVIEW AMONG OTHER THINGS THE MODES OF FINANCING EDUCATION, INCLUDING THE FINANCING OF SUGGESTED IMPROVEMENTS CONTAINED IN ITS NO. 1 REPORT TO DETERMINE ALL POSSIBLE OPTIONS BY WHICH THESE AND ANY FUTURE RECOMMENDATIONS MIGHT BE FINANCED.

WHILE CONCEDING THAT EDUCATION WAS EXPENSIVE, MR WONG SAID IF WE WERE TO MAINTAIN THE MOMENTUM OF OUR GROWTH AND TO MEET THE CHALLENGES THAT LAY AHEAD, IS THERE ANY DOUBT THAT OUR BEST BET IS TO PUT OUR MONEY ON EDUCATING THE YOUNGER AND PERHAPS EVEN THE OLDER MEMBERS OF OUR SOCIETY?+

REFERRING TO REVENUE PROPOSALS. MR WONG SAID HE ACCEPTED THE FIVE REASONS THE FINANCIAL SECRETARY GAVE FOR HIS PROPOSALS FOR RAISING THE $1.2 BILLION NECESSARY TO MEET THE ESTIMATED REVENUE SHORTFALL BY SELECTIVE INCREASES IN INDIRECT TAXATION.

HE CONSIDERED THE FOUR CONCESSIONS ON PERSONAL TAXATION IN THESE DIFFICULT TIMES AS GENEROUS AND SAID THESE SHOULD BE VIEWED AS AN ATTEMPT BY THE FINANCIAL SECRETARY TO REDUCE FURTHER ANY INEQUITY THAT MIGHT BE INHERENT IN OUR EXISTING SYSTEM.

+ IF THE FORECAST FOR 1985 IS NEAR ITS MARK, PERHAPS IN THE NEXT BUDGET. THE FINANCIAL SECRETARY MIGHT FIND IT POSSIBLE TO RE-CONSIDER THE QUESTION OF SEPARATE ASSESSMENT FOR MARRIED WOMEN.

+EVEN A PHASED PROGRAMME WILL SURELY BE HAILED AS A VICTORY FOR THE FAIR SEX AND FOR COMMON SENSE, HE SUGGESTED.

ON THE PROPOSAL TO RE-INTRODUCE DUTY ON COSMETICS AND NON-ALCOHOLIC BEVERAGES, HE SAID THIS WAS NOT COSMETIC.

+NATURALLY, CERTAIN SECTORS OF THE COMMUNITY ARE NOT AMUSED, BUT IT MUST BE REMEMBERED THAT REVENUE HAS TO BE RAISED, HE SAID.

IT WOULD BE WRONG TO ASSUME THAT THE BEST THINGS IN LIFE WERE NECESSARILY ALWAYS FREE, MR WONG SAID.

ON THE FINANCIAL SECRETARY'S INTENTION TO INTRODUCE ANTI-AVOIDANCE LEGISLATION, HE SAID IF OUR TAX WAS TO BE KEPT AT A LOW RATE, IT WAS IMPERATIVE THAT LEGISLATION SHOULD BE REINFORCÉD SO THAT THE INLAND REVENUE DEPARTMENT WOULD BE ABLE TO COLLECT TAXES WHICH MIGHT OTHERWISE ESCAPE PAYMENT THROUGH LOOPHOLES IN THE LAW.

/TURNING TO