PRESS RELEASE

Transcript of SFST's remarks

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Following is the transcript of remarks made by the Secretary for Financial Services and the Treasury, Mr Frederick Ma, after attending a radio programme today (Oct 15):

Reporter: (about the consultation time table if the Legislative Council passes the motion on GST)

Secretary for Financial Services and the Treasury: We feel that the Goods and Services Tax is the best way to broaden our tax base. This is a very important subject for Hong Kong to discuss and we should allow a lot of time, in other words, until the end of March next year, for the entire Hong Kong to discuss this important issue.

Reporter: (about opposition expressed in the past few months)

Secretary for Financial Services and the Treasury: I think it is important that we have a constructive debate over this. Some of the opposition may be emotional, some of the opposition may not be based on facts, so we want to have a very thorough discussion with the public on this subject. That is why, for example, I will be going to the District Councils, actually I have committed to go to all 18 District Councils if my schedule permits, to explain why we are doing this.

Ends/Sunday, October 15, 2006
Issued at HKT 15:48

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