K
7
92660/32
9/2600/32
of interest is that the present immunity of the
interest and sinking fund from military contri-
would
bution might have to be sacrificed.
The question of further dredging of
the harbour has not yet been settled, and is not
mentioned in the estimates. The City Hall development scheme also does not yet appear in the estimates, but in any case it is to be self-
supporting.
No unmediate action is required. ? B.V. again with the desp forwarding the appropriation
Proce
Ilalder
Je. Igenerat
18.11.32
16.11.32
dues
In favour of the reduction of light duties,
and possibly of other taxes, it may be urged
that there is a real danger in the piling up
of unnecessarily large surpluses. Such an
accumulation leads to a too ready acceptance
of large schemes of public works etc. which
involve heavy liabilities for maintenance; the se
liabilites are not easily met when revenue
falls off, and when taxation has been kept on a high level it cannot be increased. These
considerations wer very forcibly put by Fir
..oods in a Council debate in Ceylon some
years ago that Island is suffering now from
the aftereffects of overflowing budgets.
19.11