ON THE TAX BASE 'The existing structure of government revenue is less than healthy. We need revenue items which are less sensitive to ... economic cycles to offset the volatility of the others. Widespread experience overseas has demonstrated that a goods and services tax can achieve this purpose. I believe it is the civic responsibility of Hong Kong people to contribute an affordable amount of tax.' ON BUSINESSES 'Our tax regime remains very attractive to investors. I do not therefore propose to introduce any group loss relief or loss carry-back arrangements.'