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operations. Indeed there is more than a hint in his remarks that if the Financial Secretary goes through with his budget proposals to introduce such a tax in a future budget (there is no such tax in the present budget) then the Hong Kong shippers might take their ships and flags elsewhere. If he really means this then it, in turn, must open up doubt about how far he would, in fact, subscribe to a Hong Kong Register if it were created, and if he does not then it reopens the question of whether the Register would be big enough to justify the effort.
4. No doubt you have been taking the opportunity to discuss all this with him while he was in London. If so I would be interested to know what emerged.
enc.
cc AC Stuart (HKIOD)
Miss Lackey (CRE 2)
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Tuả: dh
Aston
senior British Trade Commissioner