6
because this business regio
had been proposed
to the exha
an
tration tax
an alternative
od in the t
6
5. I now
tume to
opposite. Although noted at Y
جو و
paragraph II (1)
no doubt the achievements
pana. I are very дать
praiseworthy the fact still reman's
Hong Kong has a lot
that
development work off ingently needed
cook to do for White unable to raise money by
She is
ban. On several occasions
Horny Kary
has professed herself entirely unable
raise the necessary
tora
money r
has come to H.M. G asking for
assistance. We have recently
no loan on
can be
said that the London market
contemplared and
raise
is still unable to the
money
only
rejun
it seems to
pest
me
if H.K.
needed
that the
that she consistently
to increase taxation to
anything like
reasonable level
in her circumstances. This
I suggest in time be due
on the part of
the long fanly
unofficial
term
may
to a failure
The H.K. Good to put
development needs
and squarely before the
ial members
6. As I
see
f
Leg. Co.
H.K's financial situation
الله
it is as follows. Most (if not all) J
the 1950/51 surpluss estimated in opposite at about $70 million is being swallowed up by changing Rehabilitation Loan cxpenditure
and
((possibly) by
zganist
reverine