TNAG-1728-FCO40-2441-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 235

FCO40 Hong Kong Department Records 聯邦事務部香港部檔案 All

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A Financial

looked upon with favour. A Financial Secretary who does so in two consecutive years, takes on the mantle of a financial guru, ✰ if gurus wear mantles, and even if they donot. Secretary who may be able to do it at least once more, in his next budget, will be accorded Godlike status, permitting him to enter Nirvana and perhaps, even the Hong Kong Club, without vetting or producing a passport.

Whilst joining the happy throng of budget admirers and supporters, however, I do have one or two comments to make. I do so with humility and a true sense that I am but casting rose/leaves at the feet of the master to step on as he will.

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the

Firstly, and at last to get to

year.

The

the point, I strongly support the obvious intention to provide

the next for working wives in

next budget. I separate taxation accept that this issue

issue requires very detailed assessment and consideration, but, frankly speaking, this work should have been done already and

this introduced system Financial Secretary, in referring to the subject in his Budget Speech last year, said very much the same thing as he did this year. It sounds to me as if there has been very little further work done in the meantime. It is time, perhaps in the response by the Financial Secretary to the points now being made in this Council, to confirm that he will introduce separate taxation for working wives next year.

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statement

by

the

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regard

to

the

Financial

differential

32 Corporations and other profits Taxpayers.

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time for some

intentions

profits Tax

in

on

15 per cent The difference

국철을a.

was the result of action, one could almost say unnecessary action, to obtain compensation for revenue that was intended 35 to be obtained from the highly unpopular pividend Witholding 36 Tax proposed by a former Financial Secretary.

There is no

It is

Secretary

between

also

on

his

the

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