:
..A
A
149
5.
Paragraph 10. I shall be glad to be informed
as soon as possible of the result of the review of Cost of Living Allowances, and in the meanwhile I must reserve my comments on this point.
6. I agree generally with your remarks about the. probable consequences to Hong Kong of a political upheaval in China. The further influx of flight capital you foresaw has no doubt already begun.
7. In your telegram No.884 the latest estimate of revenue for 1947/48 is given as $164,298,310, which exceed the estimate of $152,723,306 given in paragraph 4 of your despatch No. 100 of the 7th May by nearly $12,000,000. I presume this arises from the transfer to revenue for 1947/48 of His Majesty's Government's advance of £750,000 (repayment of which was waived under the financial settlement), which was previously credited to a suspense account.
8.
It would be useful if in future similar reports, the Colony's cumulative surplus to the end of the previou: quarter could be stated.
SECER.