CO129-591-7 Estimates for 1946-1947 12-12-1945 - 14-3-1947 — Page 103

Miklund

M.

Wittayle 1 Palmer Tu Camis

Istemedliche li havra Ment note on the pros....

Dear Gater,

eas

101

Chambers, า 24

Great

(reat Beorge Street,

S.W.1.

23rd July, 1945.

I have been looking at our papers about

Hong Kong Government finances and I am bound to say

that I find them disturbing.

On Colonial Office advice we provided

$900,000 for Hong Kong in the original United Kingdom

estimates for this financial year. This admittedly

was shooting in the dark and early in April Hong Kong

telegraphed a full appreciation of the position from

which it appeared that the Budget deficit was

estimated at £1.4 million. In addition special

expenditure on rehabilitation was put at fl.1 million

which it was hoped to raise by floating local loans

Farly in June Hong Kong come home again with a Budget

deficit estimated at £3.9 million and on the strength

of this we agreed, at rather short notice, to submit

a supplementary estimate for £3 million. At this stage it was still assumed that the special

Sir George Gater

G.C.M.G.,K.C.B.,D.S.O.,

Colonial Office.

expenditure