TNAG-1641-FCO40-2288-Budget-of-Hong-Kong-1987 — Page 201

11.2.87

Other Services

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99.

Other than those programme areas I have

specifically mentioned, I draw attention to a major

capital project due to start in 1987-88. This is Phase IV

of the New Territories Circular Road, between Fairview

Park and Au Tau. Also, spending on environmental

protection will receive a boost with the implementation of

control measures in connection with agricultural waste and

air quality.

REVENUE MEASURES

100.

Sir, I have described the context within which

the revenue measures for 1987-88 have been considered. I

shall now give details. In some cases, my proposals will

have a greater effect beyond 1987-88 and I shall indicate

this where appropriate.

101.

Overall, the package is made up of a number of

revenue raising measures designed to yield $365 million in

1987-88 rising to $405 million thereafter.

But this

additional revenue is more than offset by tax concessions

estimated to cost $690 million in 1987-88 and

$1,095 million in a full year (34).

(34)

Details can be found in Appendix E.

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