264
particularly where overseas expenditure
is concerned, are so greatly strained. Accordingly and w 2. In view of the poor response with
which I understand first issue of the
$50 million loan has met and the small
surplus envisaged next year even after
allowing for $10 m. arrears of revenue from
current year, I consider all possible
measures to increase revenues still further
including the raising the present rate of the
Earnings and Profits tax should be examined
forthwith. As the Colony is experiencing
great commercial prosperity at present, it
would seem that un increase of taxation
In particular t seems desirable of possible
To tax,
particularly if it can be applied to funds puck as
eg refugee capital which has hitherto
escaped, could be borne now without hard-
ship.
3. I should be glad to learn as soon as
possible what steps you consider can be
taken with the above end in view.
4.
Y Is revised revenue estimate current
year $147 m. after allowing for 10 m.
arrears carried forward to next year or is
actual cash revenue estimated at $137 m.
5. what is revised estimated expenditure
current year.
6. Grateful for further information
regarding S.T. I. profits.