XN000022-1986-04-23 — Page 10

WEDNESDAY, APRIL 23, 1986

SIR JOHN SAID HE SHARED MEMBERS' VIEWS ON THE IMPORTANCE OF VALUE FOR MONEY STUDIES AND THE NEED TO BUILD UP THE VALUE OF THE FISCAL RESERVES IN REAL TERMS.

ON A SUGGESTION ABOUT DOUBLE TAXATION PROBLEMS, SIR JOHN SAID BECAUSE OF OUR LOW RATE OF TAX, COUPLED WITH THE TERRITORIAL SOURCE CRITERION, IT HAD LONG BEEN THE GOVERNMENT'S VIEW THAT CONVENTIONAL DOUBLE TAX AGREEMENTS HAD NO PLACE IN OUR SYSTEM.

+THERE WAS ANOTHER SUGGESTION ABOUT TAX REFUNDS. WE WILL LOOK INTO THE POSSIBILITY.+

SIR JOHN ALSO SAID SEVERAL SUGGESTIONS HAD BEEN MADE THAT REALLY APPLIED TO THE NEW BANKING BILL AND HE HOPED TO BE ABLE TO ADDRESS THEM IN THE DEBATE ON THIS.

A PARTING PLEA FROM SIR JOHN

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+1 HAVE DONE WHAT I CAN TO PROMOTE AND SAFEGUARD THE PROSPERITY AND STABILITY OF HONG KONG, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

CONCLUDING A BUDGET DEBATE FOR THE LAST TIME, SIR JOHN SAID: +1 HAVE NEVER ALLOWED MYSELF TO FORGET BOTH PRESENT ISSUES AND THE FUTURE INTERESTS OF THE SIX MILLION PEOPLE WHO LIVE HERE IN AND AFTER 1997.+

HE RECALLED THAT HE HAD ALSO SAID SEVERAL YEARS AGO THAT HE KNEW THAT THE VIEW FROM A TEMPORARY HOUSING AREA WAS NOT THE SAME AS THAT FROM THE PEAK.

F

THANK ING COUNCIL MEMBERS, SIR JOHN SAID: +1 AM DEEPLY GRATEFUL FOR THE KIND PERSONAL COMMENTS THAT HAVE BEEN EXPRESSED BY MANY MEMBERS, MOST OF WHOM ARE ALSO CANDID FRIENDS THE BEST SORT.+

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HE ADDED THAT THESE COMMENTS SHOULD BE EXTENDED TO HIS WIFE WHO HAD CARRIED MANY BURDENS.

SIR JOHN ALSO SAID: +FOR MY FEW REMAINING WEEKS AND FOR MY ABLE SUCCESSOR'S TERM OF OFFICE MY PARTING PLEA IS: 'DON'T SHOOT THE PIANIST: HE IS DOING HIS BEST'.

+WE ARE ALL COLLEAGUES IN A COUNCIL IN WHICH THERE IS NO DIVIDE BETWEEN GOVERNMENT AND OPPOSITION. WE ARE ALL ON THE SAME SIDE IN PROMOTING THE STABILITY AND PROSPERITY OF HONG KONG. +

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