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HONG KONG LEGISLATIVE COUNCIL.
Circumstances have altered considerably since Government accepted with expressed reluctance the recommendations of the War Revenue Committee, and though Government does not propose to repudiate that acceptance, it feels, in view of the change in the financial position and the situation disclosed by the actual receipts from the four war taxes, that the principles on which the taxation is based should be reconsidered. I am accordingly authorised by Your Excellency to state that you propose to reconstitute the War Revenue Committee and to refer the matter to it for re-examination and advice. I venture in passing to invite the attention of Honourable Members to the fact that expenditure on the War Taxation Department itself both this year and next has been and will be kept considerably lower than the original estimate.
It only remains for me to add that the detailed preparation of the estimates of expenditure has been in the competent hands of Mr. Todd, who has also been responsible for the preparation of the memorandum which accompanies it.
Sir, I beg to move.
THE COLONIAL SECRETARY seconded.
HON. MR. J. J. PATERSON.-Before I propose an amendment may I thank the Hon. Financial Secretary for what I think is a most excellent speech and I am very grateful to him for it. I now propose, as an amendment to the resolution, that the draft estimates be deferred for consideration by a Select Committee comprising the Colonial Secretary, the Financial Secretary and all the Unofficial Members.
HON. MR. M. K. LO.—I desire to second the motion proposed by the Senior Unofficial Member, and in doing so I would like to associate myself with the remarks that have fallen from his lips as a tribute to Mr. Butters' excellent speech in introducing the Budget.
The amendment was carried.
ADJOURNMENT.
H.E. THE OFFICER ADMINISTERING THE GOVERNMENT.- Council stands adjourned sine die.
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