However, despite the introduction of such a tax, Hong Kong has gone on to full employment and a booming economy. Indeed, with the massive budget surplus this year, all permanent residents over 18 (about five million people) are to be given a cash handout equivalent to about 500 and, in addition, all taxpayers are to be given a tax rebate of up to 500.
Maybe a "devastating blow" is what is needed for our business leaders to kick their negative mindset and address substantive issues having bearing on Scotland's (and Britain's) economic performance rather than raising absurd fears and dragging the level of debate down to rank silliness.
DOUGLAS MILLER
Abbotsford Court
Edinburgh