Financial Secretary Henry Tang proposal on tax increase

According to Financial Secretary Henry Tang submission of his proposal on the increase in govt. budget next year on 1st November 2004 in the Legco, additional items like a goods and services tax, capital gains tax, green taxes and increase of tunnel tolls for the Cross Harbour Tunnel would be included in coming consultations over the 2005-06 budget.
He pointed out these options might help the government broaden its tax base and reduce its operational deficit, estimated to reach HK$46.6 billion this fiscal year and HK$39.9 billion next year.

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