Copy & Reference
р.
OUTWARD TELEGRAM
FROM S. OF S., COLONIES
Oft.on 53652/49
Code
TO HONG KONG (Sir A. Grantham)
Sent 24th August 1949, 11.45 hrs.
No. 1135 Confidential
Your despatch No. 92 Confidential.
Estimates,
Very grateful for your clear exposition of situation and your indication of possible future loan requirements. I approve 1949-50 Estimates. Certain comments follow by mail as soon as possible.
2
Meanwhile though I realise the possible political difficulties - I am still by no means satisfied that some further increase in taxation is not both desirable and possible, I shall revert to this in my despatch. Apart from reasons already advanced in favour of increasing revenue and apart from likelihood of increasing liabilities with which Hong Kong may be faced, there is also the point that in considering whether they could facilitate access by a Colonial Government to the London market, H.M.0. must satisfy themselves that all local resources are being fully exploited.
Copies sent to:
Treasury
- Mr. R.B. Moberly
12
25
No comments yet.
Private notes are available after approval.