4
5
6
7
8
9
10
11
12
13
14
15
16.
op 17
18
19
20
21
24
* * * * * ***272 313 3
31
32
34
36
The Financial Secretary's decision to lower the standard taxation rates, increase personal allowances, and reduce stamp duty has undoubt- edly been well received by the general public, in particular the middle and lower income groups who form a very important sector of our economy. The introduction of the annual tax allowance of $15,000.00 for working wives this year has been viewed as a compromise on the part of the Financial Secretary. He has remained firm in his stance in refusing to introduce separate taxation for married couples this year despite the clamour for this. While acknowledging that half a loaf is better than no bread, I would like to echo the call made by some of my honourable hon. colleagues to the Government to introduce separate taxation for married couples as soon as possible. Married couples" should be offered an option to choose whether to have their incomes assessed either jointly or individually. Mr. Piers Jacobs said in his speech that he is now prepared to consider further how separate taxation for working wives might best be introduced. I take these words, and like the general public, am anxiously awaiting the good news from the Financial Secretary in the near future. Turning to the contraversial issue of sales tax, I must say, Sir, that I detest very much the plans of the Government to broaden its
The revenue base through such a vehicle. reasons are simple. A sales tax-be it at the manufacturing, wholesale or retail level, would be unfair to consumers as they will be the ones to shoulder the final burden.
S.e.
No comments yet.
Private notes are available after approval.