SUMMING UP
102.
Sir, that concludes my revenue proposals. This year I have again been able to propose an easing of the tax burden whilst increasing expenditure on public services and maintaining the value of Our reserves.
We have adhered to our policy of continuity and we are building for the future. The proposals that I have outlined offer something for all sectors of our community. The tax concessions, particularly for middle-income earners, the efforts we are making to assist the less advantaged of our community are especially worthy of note.
103.
and
In putting together my tax proposals, I have deliberately sought a broadening of the tax base to achieve greater fiscal stability. As and when people enjoy a real increase in their income, it is not unreasonable that they should contribute to the funding
the funding of our public services. I have also referred to the work that we are carrying out in relation to а broadly based indirect tax, but I repeat my assurance that we will not rush into something that does not suit us.
104.
It is in the context of my theme of continuity and forward planning that I believe we must remind ourselves of the need for prudence. The governance of Hong Kong is becoming increasingly complex and the range of functions required of the Administration is expanding. The private sector, too, is playing
its part particularly in the provision of infrastructure. are making greater use of statutory authorities.
And we
/105. All
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