CO129-576-6 Hong Kong University- King Edward VII scholarships 23-2-1939 - 15-1-1940 — Page 4

particularly

oince increased scholarships provision was

4

one of the

Committee's principal recommendations.

Moreover the Hld. Goot. is now

conkerplating the

introduction of Income Tax, & the God. has indicated that about $7,500,000 annually might be available for purchases of naval & in craft destined for the

defence of the Colony, & for additional contulutions

In any

case the

to H.M.G.

from HK. are

likely

to be

J.K. pant.

quadly

extra war-contributions

in excess of

this

On the other hand the burden bome by the taxpayer

in this

country is for greater than anything which the 6tk. taxpayer might have to bear as a result of the war, & I think it could be

ayred

that

this scholarship provision might be met from HIT.

revenue in the altered circs. of the war

particularly virce, ever

allowing for the large

scholnship scheme adopted to dear

9x

Flu

surplus,

A

the charge

to Revenue wild. not exceed about

$80,000 annually.

This cd, not be bome

by the Defence Budget, int it might

be net

kmpanily

from the Ordinary budget which it to be incased

by about $1,000,000 at least per annum.

And

at the prvent HR. is for from being short of

ready

cash.

Although presumably if this course