TNAG-1728-FCO40-2441-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 168

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in fact to

-Conceivable

general public. It is, howevery considerable that one day such tax may, indray be introduced if public expenditure cannot be met by existing taxes and revenue and the increase of direct taxes will either be non-

ю productive because of business downturn or it will change our low tax regime so as to affect our whole economy unfavourably.

Finally, I would like to compliment the Financial Secretary, not only for his excellent analysis of our finances and balanced proposals, but also for the very clear and informative format of the Budget and the

Draft Estimates.

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Sir, with these remarks, I support the Motion.

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