47
得赢
Enclosure 1.
- 9 -
index is extremely difficult and the present statistical organization in the Colony is not such as to make a basis of that kind practicable at present.
14.
The proposal for assessment on the rating valuation
had much more to commend it. That valuation gives a much
closer approximation over a long period to the true variations in general prosperity. In this connection I enclose a copy of an extract from the Report of the Economic
Commission, 1934-35, which is of interest.
The basing of the contribution on the rating
valuation has, however, already been proposed by Sir C.
Clementi and rejected by His Majesty's Government. No reasons were given for this rejection, although according
to the Financial Secretary, who took part in discussions at the time in the Colonial Office, two of the objections
raised by the War Office and the Treasury were the danger that the suggested system might yield a smaller contribution (than the existing basis and the lack of certainty as to
the accuracy of the valuation.
15.
Makin thy Troms, Wewn And the rating caluation was unsintlif
"
of dicention, mit
"maste
prope salget to
Com bestander trelevant mother like one
Referer
In all the circumstances I consider that the
best solution would be a fixed contribution subject to re-assessment every five years, as in the Straits Settlements since 1933. This means a reversion, in part, to the system prevailing before 1896 but the instability of exchange, which was formerly an objection, has now at any rate been brought under control; while the periodic re-assessment would remove one of the objections to the former system. A fixed contribution would not merely remove the difficulties of policy and accountancy already referred to; it would also remove an element of uncertainty in the budgets of both the Colony and the War Office.