TNAG-1766-FCO40-2520-Hong-Kong-Budget-Appropriation-Ordinance-1988-(No.-23-of-198-1988 — Page 71

Other fees and charges

88.

A number of other fees and charges, including those in relation to certain services provided by the Immigration Department, the Medical and Health Department, the Trade Department and the Water Supplies Department, are scheduled for their normal

normal regular review in 1988. From these sources, expect additional revenue of about $81 million in 1988-89, equivalent to $145 million in a full year.

I

Tax Concessions

89.

I now turn to tax concessions. My personal taxation. package has been carefully structured to slow down the rate at which people move to higher tax brackets. At the same time, although allowances will be raised broadly in line with inflation, thus keeping a number of people outside the tax net, increases in real income will of course have the overall effect of increasing the number of

of taxpayers. combination of these features that I am seeking to move towards the more robust and equitable fiscal regime to which I referred earlier (42). I trust Members will note that my proposals will be of particular assistance to the middle income group.

Personal taxation

90.

For personal taxation, I propose:

It is through the

First, to reduce the standard rate from 16% to 15%;

(42)

1988 Budget Speech, paragraph 48.

/Secondly

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