XN000022-1990-03-07 — Page 13

IS

DAILY INFORMATION BULLETIN

ISSUED BY GOVERNMENT INFORMATION SERVICES BEACONSFIELD HOUSE, HONG KONG. TEL.: 5-8428777

BUDGET SUPPLEMENT

CONTENTS

GOVT DETERMINED TO CARRY OUT DEVELOPMENT PROGRAMME

PERIOD OF ECONOMIC CONSOLIDATION INEVITABLE

THREE PER CENT GROWTH IN GDP FORECAST

GOVT EXPENDITURE IN 1989-90 PUT AT $73.1 BILLION

GOVT MUST SEEK TO BROADEN REVENUE BASE

NEED TO TIGHTEN CONTROL, ENSURE VALUE FOR MONEY

COMING YEARS UNLIKELY TO BE AS FISCALLY COMFORTABLE

INVESTMENT FOR THE FUTURE

FS WILL AVOID HASTY DECISIONS ON WHOLESALE TAX

$800 MILLION IN DIRECT TAX CONCESSIONS

ADDITIONAL REVENUE FROM DUTIABLE COMMODITIES

INCREASED TAX RATES FOR PRIVATE CARS, GOODS VEHICLES

INCREASED BETTING TAX NEXT SEASON

INCREASE IN GENERAL RATES FOR PROPERTY

INCREASES IN VARIOUS FEES

CONCESSIONS IN PERSONAL TAXATION

DEPRECIATION ALLOWANCE ADJUSTED, EXEMPTION LEVEL RAISED

PUBLIC REVENUE PROTECTION ORDERS SIGNED

•

PROPOSALS AIMED AT BUILDING SOLID FOUNDATION

FS'S SPEECH ON TV AND RADIO

BUDGET PRESS CONFERENCE

WEDNESDAY, MARCH 7,

1990

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