At the same time large items of expenditure,
estimated to amount to $100 millions by
31st March, 1948, remain charged to Suspense
the recept of pending the raising of a loan, or to/further
assistance from H.M.G. which formed the
No. 292 subject of your despatch referred to abozo.
544357
In these circumstances, whilst the probable
financial outturn for the year is gratifying
and more favourable than was originally
estimated, you will doubtless keep under
examination all possible measures designed to
increase revenue including the poasumikitý
increasing the standard rate of taxation
under the Earnings and Profits tax, so that
revenue may suffice, not only to meet the
inevitable increase in certain items of the
Colony's expenditure such as salaries, but
also a certain amount of the special expendi-
ture.
3. It is observed that provision is made
under Head 20 Item 26 for $1,500,000 for an
initial grant to the Municipality, but it
not
does now appear that any expenditure will be
incurred from this provision in view of the
delay which has occurred in setting up the
Municipality.
4. In my savingram No.935 of the 12th
to which I have not yet received a reply, December, 1947,)I referred to a certain part
of the provision under Item 14 20 of the
Schedule of Rehabilitation expenditure in
respect of the Tai Lam Chung Valley Scheme
appearing to be more appropriate for a
Colonial Development and Welfare Scheme; and
I should be grateful if you would examine also
other items in the Schedule from this point
of view, in order that appropriate schemes
Is
as I have already
pouted
our
my felegram No...
Moreover,
The Colony
is experiencing great commercial prosperity,
mcrease in
aum
toux ation can be bome without hardship Considerable surplures
should thus be budgetted
پیکر
can be
order
that babilities
otherwyer chargeable to toan funds From revenne
this avoiding post fonemnet. in meeting the liabilities until
A
time
Colony may
when the
be in
a
less prosperous state,
leutel the habilites
Cure
met, the bolany will not
the able
16
rexe we
buld
ир
against
Cas
any prosperes times! me
should be glad to Scann what steps from can be taken
reveure
Consider
و
to mcrense
with this end in crew (54145/4/47)
(13)
may