XN000022-1990-04-26 — Page 18

17

THURSDAY, APRIL 26, 1990

KONG

TAX RELIEFS

ON TAXATION, MRS TAM SAID SHE WELCOMED THE FACT THAT HONG HAD MADE A MOVE TOWARDS BROADENING THE TAX BASE AND THAT

THE HELP IN THIS BUDGET WERE DESIGNED TO MIDDLE-INCOME GROUP.

LEAST

WELL-OFF AND

THE

HOWEVER, I

BEEN INTRODUCED WELL ERODE THE

"I HOPE THE TREND IN THIS DIRECTION WILL CONTINUE. BELIEVE THAT THE PARTICULAR INDIRECT TAXES THAT HAVE OR INCREASED THIS TIME, ESPECIALLY ON FUEL OILS, MAY BENEFIT THAT THE 'SANDWICH CLASS' GAIN FROM LOWER SALARIES TAX.

NO

WHOLE ECONOMY "AND THESE INDIRECT TAXES WILL WORK THROUGH THE AND PUT SOME BURDEN EVEN ON THE POOREST MEMBERS OF SOCIETY WHO PAY PERSONAL TAX AT ALL.

— —

I URGE

--

"SO AS NOT TO PENALISE THE POOR AND THE SANDWICH CLASS,

ΤΟ THE FINANCIAL SECRETARY AS I HAVE DONE ON PREVIOUS OCCASIONS

TO LEVY IN THE PROPOSES

FUTURE ENSURE THAT ANY INDIRECT TAXES HE

THOSE BEST ABLE SHALL FALL MOST HEAVILY ON LUXURY GOODS AND THUS ON

11

TO AFFORD THEM, SHE SAID.

BUDGET OFFERS LITTLE HELP IN CURBING INFLATION

SOLUTIONS TO THE BUDGET OFFERS LITTLE BY WAY OF TANGIBLE

THE PLANNING, FINANCIAL HIGH RATE OF INFLATION AND LONG PETER WONG, SAID IN THE LEGISLATIVE COUNCIL TODAY (THURSDAY).

OUR

TERM

HON

BY

SPEAKING IN THE BUDGET DEBATE, MR WONG EMPHASISED THAT ONLY

FUTURE PROSPERITY PLANNING AHEAD WOULD WE BE ABLE TO DEMONSTRATE OUR ON WHICH PEOPLE'S CONFIDENCE WAS BASED.

HE SAID THE LACK OF EFFECTIVE FINANCIAL PLANNING WAS UNRESOLVED QUESTION IN PUBLIC EXPENDITURE GROWTH, SERVICE PENSIONS AND THE FINANCING OF PUBLIC SERVICES.

THE

REFLECTED OF CIVIL

NOTING THAT ARTICLE 107

STATED

OF THE BASIC LAW

THE THAT

SHOULD

WITH THE BE KEPT COMMENSURATE BUDGET OF THE HONG KONG SAR

POINTED OUT THAT GROWTH RATE OF ITS GROSS DOMESTIC PRODUCT, MR WONG

TERM NEITHER THE BUDGET FOR THE CURRENT FINANCIAL YEAR NOR THE MEDIUM FORECAST UP TO 1994 FOLLOWED THIS PRINCIPLE.

HE

ENVIRONMENTAL

PROTECTION AND

SAID EDUCATION, HEALTH, INFRASTRUCTURE ARE ALL VITAL SERVICES THAT NEED SUBSTANTIAL INCREASES IS NOT ACCEPTABLE FOR IN THE ALLOCATED AMOUNT OF RESOURCES, BUT IT

ΤΟ HONG KONG'S INCOME THE GOVERNMENT TO USE AN INCREASING SLICE OF GRANT CIVIL SERVICE WAGE INCREASES OVER AND ABOVE NATURAL INCREMENTS.

/HK REMARKED