lextract from Haucard 2/4/36
78
33
MOTIONS.
THE COLONIAL TREASURER.-Your Excellency, The first resolution standing in my name deals with the rate of exchange at which sterling salaries for the third quarter of 1936 are to be paid. For the first quarter salaries were paid at 1s. 6d., for the is to second quarter at 1s. 54d. and the proposal now reduce the arbitrary rate of exchange by another 34d. to 1s. 42d. The Secretary of State has approved and I now move that "Resolved pursuant to section 2 (4) of the Hong Kong Government Service (Levy on Salaries) Ordinance, 1936, that after deduction of the levy, if any, and of the Widows' and Orphans' Pension Contribution, if any, or of either. the remainder of the salaries of all public officers in the Hong Kong Government Service, which are expressed in terms of sterling, whatever their amount, shall be converted at the rate of one shilling and four pence half-penny to the dollar for the months of July, August and September, 1936."
THE COLONIAL SECRETARY seconded, and this was agreed to.
THE COLONIAL TREASURER.-Your Excellency,-The next resolution is self explanatory. Council will remember that a similar or two concession was made in 1931 to officers who had one dependents in a sterling or gold standard country when salaries were paid half at 1s. 6d. and half at current rate. It is a fact that the imposition at short notice of arbitrary rates of exchange of 1s. 6d.. 1s. 54d. and 1s. 41⁄2d. for the first three quarters of the year has
pressed somewhat harshly on officers having to remit funds, as they were for the most part unable to adjust their expenditure immediately and have been obliged to buy sterling at the Bank's selling rate. which to-day is 1s. 3%d. It is, therefore, thought reasonable that some concession should be made to officers in this position. The scheme has been approved by the Secretary of State and has been accepted by members of the Finance Committee. Its adoption will reduce by $25,000 the total savings under the Levy on Salaries Ordinance.
I now move "Resolved pursuant to section 6 of the Hong Kong Government Service (Levy on Salaries) Ordinance. 1936, that with effect from 1st January, 1936, until 30th September, 1936, both days included, that one sixth of the salary, if expressed in terms of sterling, of every officer of the Hong Kong Government Service, who shall have a wife or a child under the age of twenty-one years dependent on him and resident in a sterling or gold-standard country, shall be exempt (after deduction of the levy, if any, and of the Widows' and Orphans' Pension Contribution, if any, or of either) from the operation of the special conversion rate provided for in section 2 (4) of the said Ordinance during the period in which such wife or child is so resident.
"And Resolved further that in the case of such an officer, who has two or more such dependents so resident as aforesaid, the exemption (after the said deductions, if any) shall extend to one third of the salary."
THE COLONIAL SECRETARY seconded, and this was agreed to.