CO129-597-2 Estimates 1949 1-3-1948 - 14-7-1949 — Page 198

OUTWARD TELEGRAM

53652/48 FROM THE SECRETARY OF STATE FOR THE COLONIES

Code

TO HONG KONG (Sir A. Grantham)

Sent 16th July, 1948.

10.30 hrs.

No.794 Confidential.

Your telegrem No.677.

Eatine tes.

I note that perenus and expenditure for first quarter indicate that, provided the full estimated revenue from Barninge and Profite Tax is eventually received, there should be a moderate surplus over the current year's working, and that the surplus for 1947/48 le likely to exceed the previoué estimete by about $15,000,000.

2. My detailed camente on views expreoset in paragraph 3 of your telegram will follow by despatch. I had already, before receipt of you telegram, given consideration to possibility of State lottery for Hong Kong, but I fear that, foe reasons which I will explain in my despatch, I cannot agree to adoption of this expedient in present circumstances

Copics sent to:-

Trensuzy

Mr. Pitbledo.

MY. K.P.Bancroft.

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