CO129-591-7 Estimates for 1946-1947 12-12-1945 - 14-3-1947 — Page 144

Wt. 49614/485 3/46 50m. S. & S. Ltd.

C. O.

Mr.

Mr.

Mr.

t

Mr.

Mr.

54126/1/46

FOR TREASURY CONCURRENCE

Permt. U.S. of S.

Parly. U.S. of S.

Secretary of State.

DRAFT. SAVING TELEGRAM

No.

..Saving.

GOVERNOR,

HONG KONG

Your telegram CA. 3685 3rd April.

Hong Kong Estimates.

Treas. S.51336)

2. 3. 46.

(No.8 - 54126/1/46)

C.0.Letter 5. 3.46

(No. 9

Treas (No.11

S.51336 of 7. 3.46.

It is understood that the period

covered is 12 months and accordingly all

totals may be reduced by 1/12th as the

period to be covered is now only 11 months

from 1st May, 1946 to 31st March, 1947.

that basis the position appears to be

as follows:

On

Total expenditure $95,400,000

Less possible

reductions

Expenditure

normally met

from loan

funds

$ 4,200,000

$17,400,000 $21,600.000

Revenue

Deficit

Net $73,800,0

$51,800,000

$22,000,000

£1,400,000

FURTHER ACTION.

Copy with copy of encs and copy of No./7 on this file and of No. 6 on file

54126/1/45/t

R.L.M. James. (Treasury).

James.

(a)

2. It is assumed that no provision is

required for trading activities of the

Supplies Department which should be self-

financing.

3 No provision is included for

compensation for war losses and damage

and the financing of this will have to be