CO129-558-3 Levy on Salaries- petition from Chinese Civil Servants 3-1-1936 - 19-12-1936 — Page 2

CI

S

sull' Geuts

minute

7

9/12/35

on 2 in 56699/55 (Salaries- Sterling conversion rate)

DESTROYED

Holification of L/S afferral of temporary terry on salaries from 1/1/36.

2

TUTE

Put by

Ramnome 10/12/35

alonu

2 For Fel1

Copees of plans.

kif Budgetary position

8 Jan

1936

& Subents for

HK8 53699/15 dating converafferral scheme inaugurating Salary way.

53652/35 Estate

the following budgetary position:-

$

(Tome midday 4/1/36.)

(2) reveals

Estimated deficit 1935-

1. 000. 000

budgeted

1936

3.000.

3.000.

Additional cost of starting

commitments (&=1/3)

ress increased revenue from taxes

Nevies @ couva hinal rate

@couve

of $21/8

Total deficit anticipated

at 31.12.36

Total deficit for 1936.

7. 000.

100

1.

250. GoO

575

5. 758.

000

4.750. ooo

The salary levy schemes proposed me as

follows:-

2.

I Starting salaries:

Salaries not exceeding £240 par exempt.

Of thire exceeding £240p,

310000

Saviny $272.

4

a

· levy

or

The first ₤240,

next ₤360

₤ 400 £400

I on the amount celove ₤1400, 122%

50% 72%

10 %