Other Services
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.
on environmental protection will receive a
of control measures
implementation
agricultural waste and air quality.
in
Also, spending
boost with the
connection with
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).
DUTIABLE COMMODITIES
102.
I shall deal first with duties. In general, the
principle underlying my proposals is that duty rates should be
maintained in real terms. My objective is to secure regular
small changes broadly in line with inflation rather than less
frequent, but inevitably larger, increases. There are some
minor exceptions to this principle but, by and large, I have followed it closely.
(34) Details can be found in Appendix E.
31
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