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The Financial Secretary's budget proposal (26 Oct 2003)


The Financial Secretary (FS) proposed to balance the budge in 2008-09 and Eric Li Ka-cheung (Legislative Councilor, Accountancy Functional Constituency) says it is an acceptable timeframe but he views withdrawal of the proposed departure tax, delay implementation of sales tax and not cutting expenditure deep enough as signs of weakness. K. C. Chan (Dean, School of Business and Management, Hong Kong University of Science and Technology) agrees. He says the FS relies on the reserve to delay implementation of new taxes. There is much room to downsize the civil service and the government must have the determination to do it.

Publish Date: 
Sunday, October 26, 2003
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