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FS speaks on Budget consultation
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Following is a transcript of
the remarks (English portion) by the Financial Secretary, Mr Henry
Tang, at a stand-up media session after attending a radio programme
today (November 27):
Reporter: Given that your next Budget
will only be effective in the current administration for three months
does it mean there are some constraints in your work in drawing
up the next Budget? My second question is some ... have said want
income tax level to be referred back to old¡K What do you think about
such suggestions?
Financial Secretary: There have been
suggestions that the Salaries Tax should revert to the 2002-03 level.
I think it is just a convenient way of giving me an opinion. In
Salaries Tax, there is a host of different elements such as whether
the personal allowance should be adjusted, whether the tax bands
should be adjusted, whether the tax rates should be adjusted and
whether the standard rates should be adjusted. So all of these elements
comprise the Salaries Tax and I urge people to look at them individually
and not just to give me a slogan kind of suggestion and say revert
back to 2002-03 level.
As far as this Budget is concerned,
there is a certain uniqueness in that the next term of government
will start on July 1, 2007, so I believe we should allow the next
government to have the maximum flexibility in terms of how they
wish to initiate programmes or policies that will require the fiscal
support of the Financial Secretary.
(Please also refer to the Chinese
portion of the transcript)
Ends/Monday, November 27, 2006
Issued at HKT 15:02
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