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Revenue-raising Measures, The "User Pays" Principle
Personalised Vehicle Registration Marks Scheme

80.      To raise revenue for the Government, I propose to introduce a Personalised Vehicle Registration Marks Scheme in addition to the existing arrangements for allocating and auctioning vehicle registration marks. The proposed scheme will not affect people's livelihood or business activities but will offer more choice to vehicle owners. Under the scheme, a vehicle owner can choose his preferred vehicle registration mark and use it upon approval of his application by the Transport Department (TD) and following a bidding exercise. To allow for more choice and add to the attraction of the scheme, TD will substantially relax the restrictions on vehicle registration marks for participating vehicle owners, to allow for any combination of up to eight letters and numerals.

81.      TD is actively making preparations for the scheme with a view to inviting applications by the end of this year. In a full year, the scheme is expected to generate additional revenue of about $70 million for the Government. The Commissioner for Transport will shortly provide further details.

82.      The Government will, as soon as possible, introduce legislation into this Council in respect of the home loan interest deduction, the duty concession for ultra low sulphur diesel and the Personalised Vehicle Registration Marks Scheme.

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2003 | Important notices
Last revision date : 10 March, 2004