•
COF DENTIAL
2.
how to finance them in present circumstances without
inhibiting the investment and economic growth on which the
rise in revenue and consequently the implementation of these
plans ultimately depend, and also without provoking a back-
lash from the tax-paying public that will put the very
principle of the plans at risk.
4.
This problem has had to be solved within
the peculiar fiscal limits of the Hong Kong situation.
These are:
1) Firstly that Hong Kong can only retain business
and attract investment, and thus maintain the
livelihood of the population, if the economic
environment is more attractive and profitable than
in other similar places such as Korea, Taiwan,
Singapore and Indonesia; and the political question
mark that hangs over Hong Kong's long-term future
requires an extra margin in Hong Kong's favour to
make investment comparatively attractive.
2) Secondly, that there is so much to be done to
make good the deficiencies of life thrust on Hong
Kong by the influx of population and so little time
to do it before the early '80s when the shadow of
the end of the lease in 1997 will begin to fall across
the economy.
In this situation there is natural fear of killing the goose
that lays the golden eggs and by an over-bold fiscal policy,
/scaring off
No comments yet.
Private notes are available after approval.