CO129-606-2 Treasury control over Hong Kong finances 22-1-1948 - 9-12-1948 — Page 26

X

- 2

26

(c) The Secretary of State is to be kept fully informed

of the Colony's financial position and of the general trend of

its financial policy at least quarterly.

(a)

The Secretary of State will consult with H.M. Treasury

from time to time on all important matters affecting Hong Kong's

finances.

The Secretary of State points out that the key-note of

the proposed arrangements is consultation rather than control,

and emphasizes the necessity of his being kept constantly

informed of financial trends. He has indicated that he will

review the situation again at the end of this present financial

year, when it is possible that the principle of consultation,

now adopted, may be further extended.

$