11
WEDNESDAY, MARCH 9, 1994
* WHETHER GAINS SHOULD BE AVERAGED AND BROUGHT TO CHARGE OVER A NUMBER OF YEARS; AND
* WHETHER THE TAX SHOULD APPLY TO TRANSACTIONS IN STOCKS AND SHARES IN PROPERTY-RELATED BUSINESSES.
AS TO THE ADVANTAGE OF SUCH A TAX, HE SAID IT MIGHT DEPRESS PROPERTY PRICES AND BRING IN ADDITIONAL REVENUE FOR THE PUBLIC COFFERS FOR A LIMITED DURATION.
"BUT THEY SEEM TO BE UNCONVINCING ARGUMENTS FOR INTRODUCING A CAPITAL GAINS TAX, GIVEN THE UNPREDICTABLY WIDE IMPLICATIONS OF SUCH A TAX AND OUR PRESENT STRONG RESERVES," HE SAID.
TO CURB PROPERTY SPECULATION, MR TSANG SAID ALL AGREEMENTS SALE OF RESIDENTIAL PROPERTIES WERE REQUIRED TO PAY STAMP DUTY.
THIS WILL INCREASE THE COST OF SPECULATION WITHOUT GENUINE HOME-BUYERS.
SPECULATIVE
AT THE SAME TIME, THE INLAND REVENUE DEPARTMENT WILL ITS EFFORTS IN COLLECTING PROFITS TAX FROM TRANSACTIONS.
OF
HARMING
CONTINUE PROPERTY
"THESE MEASURES HAVE PROVIDED SOME RELIEF, HE SAID.
"
HE SAID THE KEY TO TACKLING RISING PROPERTY PRICES MUST BE INCREASE SUPPLY.
ΤΟ
IN CONCLUSION, HE SAID THE ADMINISTRATION BELIEVED THAT ON PRESENT INDICATIONS, THE SHORT-TERM BENEFITS WHICH A CAPITAL GAINS TAX MIGHT HAVE WERE HEAVILY OUTWEIGHED BY ITS LONG-TERM DISBENEFITS.
"THERE IS A SERIOUS RISK THAT IMPOSING A CAPITAL GAINS TAX NOW, ASSUMING THAT IT COULD
THE BE EFFECTIVE IN CURBING
IN ACTIVITY PROPERTY MARKET, WOULD DO NO MORE THAN REDUCING PRICES FOR THE PRESENT GENERATION OF HOME-BUYERS AND INCREASING COSTS FOR FUTURE ONES.
+
0
—
INDEPENDENT POLICE ADVISORY COMMITTEES UNNECESSARY
MR
IT IS NEITHER NECESSARY NOR DESIRABLE TO ESTABLISH ADDITIONAL INDEPENDENT POLICE ADVISORY COMMITTEES, THE SECRETARY FOR SECURITY, ALISTAIR ASPREY, SAID TODAY (WEDNESDAY).
IN REPLY ΤΟ A QUESTION BY THE HON JAMES TO KUN-SUN IN LEGISLATIVE COUNCIL, MR ASPREY SAID THERE WERE ALREADY PROCEDURES MONITOR THE POLICE FORCE PROPERLY AND ADEQUATE CHANNELS COMMUNICATION BETWEEN THE POLICE AND THE COMMUNITY.
++
THE
ΤΟ
OF
EFFICIENT
AND
BASIS
BY
EXPENDITURE AND PERFORMANCE, INCLUDING THE EFFECTIVE USE OF RESOURCES, WERE MONITORED ON A CONTINUING THE CENTRAL GOVERNMENT, MR ASPREY SAID.
/BROAD STRATEGIES
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