21
As regards (A) in Mr. Rogers' minute -
the matter of a local survey of the present basis
of taxation
-
I am not sure that there would be any
advantage in the Secretary of State singling that
project out for specific approval, and indeed I rather
doubt whether in present circumstances there will be
any great advantage resulting from such a survey.
Neither Shipping nor Trade, nor any big South China
Insurance or Banking, or other business can be expected,
in present circumstances, to co-operate very heartily
in any scheme of a broader basis of taxation which,
if it is to mean anything substantial, must draw them
Fold
and their operations into the wa.
I suggest that we should telegraph approval
Ava
of the Estimates and of the resolutions authorising
and expenditure. ture/f
loan expenditure/from the Waterworks Renewals Fund,
and that we should follow this up with a despatch as
Mr. Rogers' propos es, but instead of referring to A
in his minute, we should say particularly that the
Secretary of State notes that the Governor will keep
the revenue position constantly under review, and that
in the event of its deterioration, it will be possible
to curtail further expenditure of a non-recurrent
character as well as deferring expenditure on certain
maintenance items.
2
Shant.
.1.39.