CO129-595-3 Proposed introduction of income tax 12-12-1946 - 26-1-1947 — Page 118

196/4/46

Code

OUTWARD

TELEGRAM

118

TO HONG KONG (sir M. Young)

FROM 3. 07 3.

COLONIES.

Sent 2nd September, 1946. 18.45 hrs.

IMMEDIATN No. 011.

My telegram No. 600 paragraph 4,

Raven of Comm

;

Crown Agents for the Colonies are prepared to finance special expenditure temporarily by advan009 from Jotut Celonial Fund at bank rate varying on security o* appropriate loan ordinance, They would also require

BLSUPEROs that in the ovent of the Advance from Jaini Colonial Fund having to be repaid and prospects of rarket lown in London, being unfavourable. Treaevry will undertake to provide necessary fondo,

This of course involves assistance from V.X. funds and Treasury will not feel able to agree to any azvurenge on above lines unlean they are satisfied (1 every effort is being made to raise maximum additional

ovonue whether from new taxation or by Increase of existing texas; (3) that before resouras is had to london, possibilities of a local loan should be exhausted on basis wentioned in paragraph 4 of my telegram No. 600, mausky that the terms should not be appreciably lese Tevourable than those obtainable in London.

e

3. 1 should eccordingly be glad of any information. and assurances you can give me on the firet point,

Coples sent to:~

Beasury

Grown Agents

***

Onam

/particularly

Bisa M, E, Ashe.

Mr. Osex,

Mr. A.H. Hicks,

Fr. Goldburg.