XN000022-1988-04-21 — Page 28

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THURSDAY, APRIL 21, 1988

YEAR'S BUDGET ON TAX CONCESSIONS, MR HUI SAID THAT WHILE THIS HAD BEEN HAILED AS A BONANZA FOR THE MIDDLE CLASS, NO PROVISION HAD BREN MADE FOR THE SO-CALLED SANDWICH CLASS PEOPLE WHO WERE MAINLY NON-OWNER OCCUPIERS OF PREMISES AND WERE NOT QUALIFIED FOR PUBLIC RENTAL HOUSING.

"THESE PEOPLE CANNOT BENEFIT FROM THE ONE PER CENT TAX

STAMP DUTY FOR CONCESSION IN

PREMISES COSTING

TO $500,000

91.5 MILLION WHICH ARE QUITE BEYOND THEIR MEANS TO PURCHASE."

FOR MR HUI MAINTAINED THAT WAIVING THE ONE PER CENT STAMP DUTY

THE GOVERNMENT LESS PREMISES COSTING LESS THAN $500,000 WOULD COST

INCOME EARNERS THAN $500 MILLION, AND WOULD INDUCE MORE MIDDLE-LOWER

SENSE OF BELONGING TO PURCHASE THEIR OWN HOMES, FOSTERING IN THEM A TO HONG KONG.

OF A SALES INCOME GROUP AND WIDEN

ANOTHER AREA OF CONCERN TO MR HUI WAS THE MENTION TAX, WHICH HE SAID WOULD HIT HARD THE LOWER THE GAP BETWEEN THE RICH AND THE POOR.

ON THE OTHER HAND,

PROFITS

HE NOTED

THE

THAT THE TOKEN ONE PER CENT

REDUCTION IN

TAX, WHILE NOT MAKING MUCH IMPACT ON

AND THE MONEY COLLECTED BUSINESS CIRCLE, COULD HAVE BEEN RETAINED,

BENEFIT COULD BE SPENT ON SOCIAL SERVICES WHICH WOULD BRING IMMEDIATE TO THE LOWER INCOME GROUP.

ADJUSTED

OF

THE GOVERNMENT TO SIMILARLY, HE FULLY SUPPORTED THE CALL FOR

INCOME TAX WHICH SHOULD BE REVIEW THE OUTDATED SCALE OF

EASE THE HARDSHIPS ACCORDING TO INFLATIONARY TRENDS IN ORDER TO LOW INCOME TAXPAYERS.

INTO FOR OF DISABLED

SAYING HE WAS TAKING THE GRASSROOT POPULATION'S INTERESTS CONSIDERATION, MR HUI PROPOSED THE INTRODUCTION OF TAX EXEMPTIONS

TO MEET THE NEEDS EMPLOYERS TO ADAPT THEIR MACHINERY WORKERS.

FOR FACTORY OWNERS WHO WORKING MOTHERS ON THEIR PAYROLL, CHILD ALLOWANCES FOR FAMILIES WITH

THERE SHOULD ALSO BE TAX CONCESSIONS OPERATED DAY CRECHES FOR ALLOWANCES FOR WORKING HOUSEWIVES AND ELDERLY AND INFIRM MEMBERS.

THAT IN ANTICIPATION OF A MR HUI ALSO SAID BOUYANT ECONOMY AND LIKELY

CUTBACKS EXPENDITURE ACT GOVERNMENT SHOULD

NOW

EXPAND AND IMPROVE SERVICES.

POSSIBLY

LESS

IN

1989,

THE

TO

SOCIAL

WELFARE

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