CO129-534-6 Loans for public works 24-2-1931 - 11-8-1932 — Page 65

NO. CONFIDENTIAL.

REARIVED

13 APR 1931

FFIO

GOVERNMENT HOUSE,

HONG KONG, 13th March, 1931.

82773/31 (2) water Pony

Ano tel 18

31

may (no2)

Anod Es

My Lord,

In continuation of correspondence resting with Your Lordship's telegram No. 24 of the 30th of January,

1931, I have the honour to enclose herewith a fully

detailed statement of the requirements of the Colony,

as far as they can be foreseen in the matter of Loans

for the financing of Public Works.

2.

It will be noticed that no provision has been made for a new Government Civil Hospital, which I

consider to be an urgent need. It is probable that I

may apply to the Colonial Development Fund for

assistance in regard to this work. Meanwhile, the question of changing the site of the hospital is being explored, and until that question is settled, it is not possible to estimate what the cost will be.

3. I have only to add to the statement that

taxation in Hong Kong generally speaking must be considered as light, and that an increase in the Assessed Taxes (which has long been foreshadowed and expected in the Colony) will yield some $350,000 per annum for each one per cent Tax. A 3% increase which is contemplated will therefore provide over $1,000,000.

THE RIGHT HONOURABLE

It

LORD PASSFIELD,

&c.,

&c.,

&c.

65