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FS speaks on Goods and Services Tax

    Following is a transcript of remarks (English portion) by the Financial Secretary, Mr Henry Tang, to the media after attending a radio programme this morning (July 10):

Reporter: With the introduction of the consultation paper into LegCo, will GST be introduced during this legislative year? or next year?

Financial Secretary: Well it's pretty clear that with a nine-month consultation period, this Government will not have time to introduce a GST, so my job is to conduct this extensive public consultation, which will last for about nine months and then when it finishes, I will prepare a report for the next Government to consider the way forward.

Reporter: ... aiming to introduce this into LegCo within this legislative year?

Financial Secretary: No. The Government has not come to a decision on the way forward and it is up to this Government to prepare a report and submit it for the consideration of the next Government.

(Please also refer to the Chinese portion of the transcript.)

Ends/Monday, July 10, 2006
Issued at HKT 12:40