1992-05-07 02:59
G.1.5
„06-MAY-1992 32:39
SECRETARIAT PRESS OFFICE
P.04/06
+ 852 868 5212 P.04
Q: So there is a legislative link. We know there is a link in your reaction to LegCo pressure to some degree.
FS: Following that change of logic, yes. But the origin of the decision is that I have $6 billion more revenue than I expected. Therefore I don't need to raise so much revenue.
Q: But you wouldn't have got the rates peasure through anyhow because CRC and the UDHK have both said that they would vote against it. CRC made that plain today.
FS: It would have been difficult. I certainly had not given up hope that I can get it through, I have been talking to quite a number of people about their votes. I believe it would have been possible but difficult.
Q: You remain committed to rates as preferable to sales tax in terms of raising revenue?
FS: Yes. Yes.
Certainly I regard rates as preferable to sales tax.
Q: How can you justify the Budget as a package in the future, and persuade the Legislative Councillors to believe this is a package if the Budget is built on such shaky grounds?
FS: Well, the whole Budget isn't built on shaky grounds. On the other hand I think I will be getting a lot of criticism quite rightly if I simply failed to adjust to the new figures. I think that's pragmatic and sensible. The Budget is based on many more figures and assumptions than the 1991- 92 surplus,
Q: Why couldn't you have made alterations to the personal allowances ag well. I mean you say you are very pleased that the Budget's now got through.
with 17 abstentions, that's the biggest in the history of Hong Kong for a Budget, are you really happy with that?
FS: I think that what I said in the Budget Debate was a perfectly reasonable compromise. That is to say there are those certainly a large number who would like to see larger personal allowances and also increases in tax bands. And I've said I'll take that into account in the next Budget. That's in other words priority by LegCo and accepted by myself.
Q: But is this a Budget you are satisfied with when Legislators have abstained in voting in favour of it?
declared
03
many
FS: I'm satisfied with it. Yes, I mean I'm pleased to have a Budget that's got through, that puts us I think in a good position to deal with not just next year but the next few years.
Q: How will you use the extra surplus, besides the withdrawal of the rates?
FS: That's used up already, sorry to say.
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