TNAG-1727-FCO40-2440-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 37

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to home purchase and not

Beverage tax

its

speculative activity I have been, and remain

opposed to the tax on soft drinks and beverage. As far as I know such

a tax does not exist in most countries around the world. I cannot see

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any reason for retaining it when such a large proportion of the

consumers are young people.

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Hrport tax

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Our airport tax is still among the highest in the region as has been

MMM.

CHAM.

pointed out yesterday by KC In the face of growing competition

in the neighbourhood and 3,388 more of our own hotel rooms coming on

stream in the next year, it will certainly not harm our image or our

tourist industry if we could bring the level of this tax in line with

other airports in the region.

Sir, in conclusion I would like to congratulate the Financial

Secretary on a Budget with which, with the exceptions mentioned above, is in my view an excellent Budget. I only hope that all of the

compliments he has received, and there have been many, will not

convince him that it is beyond improvement, and I wish some of the

equally excellent ideas forwarded by the non-official members in this Debate will be adopted.

With these remarks, Sir, I support the Motion.

Mr. YEUNG:

Mr. YEUNG PO-kwant

the Budget shows to

This

Sir, the people of Hong Kong that our Government. has acquired a large revenue when our economy is a robust one which is

operating with great flexibility. It also shows that the rise in our

public expenditure has fallen in line with our economic growth. being so, the income and expenditure in the Draft Estimates have fully reflected the principle underlying the fiscal policy of the

Government which is to exercise prudence and to spend within our

means. This objective of first creating wealth and then distributing

profits it is conducive to maintaining the province tax in Hong Kong at a low level, which, in turn, will stimulate the pursuit of wealth by

individuals as well as corporations

and ease off the pressure from on