Extract from Minutes of H.K Legislatu Councel of 7-3 40,
WAR REVENUE COMMITTEE REPORT.
39,52
Pg 12.
THE COLONIAL SECRETARY.-I rise to move that this Council approves generally the Report of the War Revenue Committee, published in Sessional Paper No. 1 of 1940, and accordingly resolves that the Government should proceed, as recommended in Chapter III paragraph 1 of the Report, with measures on the lines of the War Revenue Bill attached as an appendix to the Report. The Report in question has to-day been laid on the table of this Council, but in view of the urgency of the situation it has already, three weeks ago, been circulated to honourable members and, a day later, released to the Press; and the Government welcomes the generally favourable reception which it received from the public.
It will be observed that to-day's agenda does not include legislative action on the lines indicated in the Appendix to the Report but it is, I understand, Your Excellency's intention that the Bill in question, with a few modifications, should be introduced in this Council at an early date. It must therefore be clear that the approval of the Report which I shall shortly propose will in no way preclude or prejudice the ordinary rights of debate when the Bill comes before the Council.
I should like to take this opportunity of expressing the thanks of the Government, and I think I may say of the whole Colony, to all the members of the committee who signed the Report for the time they gave to their arduous task and for the patience with which, from a mass of conflicting views and opinions, they arrived at a conclusion that was virtually unanimous.
I have Your Excellency's authority to add that the intentions of Government for the disposal of the proceeds of the War Revenue Tax will be made public in detail as soon after the acceptance of this motion by the Council as is possible. At the present time I can say no more than that they will be devoted to three forms of expenditure; these
will be first to cover the net cost of their own collection, secondly to defray the abnormal expenditure forced on this Colony by the war with Germany, and thirdly to make a substantial gift to His Majesty's Government towards the prosecution of that war. That contribution is expected principally to take the form of locally built vessels to be presented to the Royal Navy.
Investigations into the cost of the two former and the most suitable types of craft for the last are already far advanced, but for obvious reasons this would not be the moment for their announcement even were they complete.
I wish to express the hope and the belief that this motion will be accepted unanimously by the Honourable Members of this Council and that that acceptance may be taken also as general approval of the subsequent course of Government action which I have just outlined.
THE ATTORNEY GENERAL seconded.
HON. SIR HENRY POLLOCK.-Sir, The Unofficial Members of this Council are unanimously in favour of a substantial annual War Gift for the defence of the Empire being made by this Colony, and they agree that, for the duration of the War, taxation for that purpose shall be imposed upon the lines which are embodied in the War Revenue Bill, to the framing of which the War Revenue Committee has devoted much time and thought. (Applause).