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reinforce what funds are available for development. us on to ask whether Hong Kong should not be requested to consider setting up a small Development Corporation of its own. be easier for such a body to meet criticism of the sort to be
This leads
It might
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expected if a Government Department were directly responsible for a profitmaking concern. (I should perhaps add here that we consider the danger of such criticism will be lessened if the public can see, in the tangible form of further development, what the 'profits have been used for. X above refers).
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Paragraph 6. We can agree that expenditure on the fisheries survey may be regarded as eligible for reimbursement from C.D.W. funds pending the submission of a scheme.
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Recommendation 3. We feel that this project might well be offered to the C.D.C: the Governor's remarks on it in paragraph 7 of his despatch are somewhat elliptical, but it has obvious attractions for the Corporation.
We have gained the impression, perhaps wrongly, from the papers enclosed with your letter, that the Hong Kong administration is not fully aware of all the purposes of the C.D.W. Act, which was intended to stimulate a Colony's development generally, as well as to enable it to undertake ad hoc schemes. Similarly there appears to be a certain lack of appreciation of the possible uses of the C.D.C. These seem to be points which might with
/advantage