3
4
5
6
7
our future long-term survival. I have always believed that if we invest our money on the development of our human resources, we will succeed, and all of the rest will fall into place.
am
Iglad to know that we have a surplus of over $10 billion last year, and overall speaking, the budget presented by the Financial Secretary is a good one. I would like to see our money spent wisely, in order to enhance
a better ensurex a
عمت
7
8
9
future for Hong Kong.
10
11
Sir, I support the motion.
12
13
14
15
16
Mrs. Rita FAN : Sir, the Budget has been welcomed by many as
per cent balanced and reasonable. In particular, the 1 unexpected
17 tax cut is good news for many taxpayers. The sandwich/class
is 18. are pleased with the tax concessions on personal faxation. Among these concessions, the most significant measures are the revision of the marginal tax rate, and working wife allowance,
の which will bring considerable benefit to the lower and middle income group.←
ne 19
op 20
21
22
2 2 2 2
23
24
2.5
cap26
27
28
29
31
These concessions are expected to reduce revenue for 1988/89
a
by $1.34 billion against
against the net estimated surplus of $5.5
billion.
The Financial Secretary indicated in
his budget speech that an average overall surplus of $2.7 billion will leave a comfortable margin to maintain the real value of our
reserves and provide a cushion for unforseen events. With an 30 estimated surplus of $5.5 billion, which is twice that of the necesssary amount, and an expected surplus of $10 billion in 1987/88, is the Budget proposal suitably cautious or is it over-conservative? Has the opportunity for implementing some long overdue tax measures, such as tax exemption of severance+ pay for workers, been allowed to
to slip away by default? there is a serious downturn in our economy in the near future,
as the Financial Secretary has predicted this cautious
+
732
33
34
-35
)
36
2
If
No comments yet.
Private notes are available after approval.