05-MAR-1993 10:48
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Forum: The papers noted that five groups at a forum on the Budget yesterday all felt that the Budget would fuel inflation. While generally welcoming the Budget proposals, the groups, including CRC, UDHK. ADPL. DAB and Meeting Point, noted that it did not contain any proposals to curb inflation.
DB chairmen it was noted that the 19 DB chairmen supported the Budget in general although they had reservations on individual Budget proposals. Some disagreed with the cut in Police funding and the increase in fuel tax. They also felt that the FS did not have a comprehensive plan to combat inflation.
Groups and individuals: The United Daily News noted that many of the HK affairs advisers described the Budget as "generally not bad", but pointed out that the Budget was short-sighted and failed to address the question of inflation. The report noted that Xu Simin was the one strongly criticising it as spending too much money and saying that the deficits were unreasonable. Wen Wei Po also carried comments from a number of public figures, incluing Liu Yiu-chu and Xu Simin, criticising the Budget as going against the usual practice of "weasuring expenditure agad t revenue",
Alexander Mak of the HK Institute of Taxation criticised the Budget as a political move aimed at appeasing the general public. But it had failed to tackle the problem of inflation, he said. Chairman of the Joint Council of the Travel Industry of HK, Harold Wu, said he was disappointed that there was no reduction in airport tax, but he welcomed the cancellation of cosmetics duty. The UPGC issued a statement welcoming the incease in allocation to tertiary institutes. The HK Automobiles Association also issued a statement that welcomed the Budget in general but expressed regret that the Government had failed to set aside money out of its huge surplus to improve the territory's traffic congestion.
P.002/006
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