Bills Committee on Revenue Bill 1999
Concerns raised by members at the meeting on 27 May 1999
Members requested the Administration the following -
Increase of Cross-Harbour Tunnel tolls
- To provide the latest figures on traffic flow in respect of the Cross-Harbour Tunnel, Eastern Harbour Tunnel and Western Harbour Crossing and the percentages of vehicular flow against their designed capacity. Information on figures on traffic flow in the past few years for comparison would be useful.
- To assess the impact on traffic flow of a proposed increase of Cross-Harbour Tunnel tolls to $20 and $8 for private cars and motorcycles respectively. Members are concerned about the extent of the proposed increase in achieving traffic diversion. Some members remain unconvinced of the Administration's saying that increasing the Cross-Harbour Tunnel toll to $20 for private cars would help divert traffic from the Tunnel, but increasing it to $15 would encourage motorists to use the Tunnel.
Deferred payment of stamp duty chargeable on agreement for sale of residential property
- To further clarify the need to require a corporate purchaser to provide a banker's undertaking for the purpose of applying for deferred payment of stamp duty chargeable on an agreement for sale of residential property. Members are deeply concerned that the introduction of such a measure seems to be based on the Administration's perception of failure on the part of conveyancing solicitors in ensuring the stamping of agreements for sale.