from the Colonial Development and Welfare Vote.
I cannot emphasise too strongly that, in general,
the money provided under the Colonial Development
and Welfare Vote is intended to be supplementary to
the provision of finance for development by the
Colonies themselves. I appreciate that in the
particular case of Hong Kong the full application
of this principle may of necessity be modified
by a number of special considerations such as:-
(a) the possible heavy demands, some of which
cannot be readily calculated at the
present time,on the Colony's financial
resources,
(b) the need to re-establish as early as
possible the necessary reserve funds to
place the Colony once again on a firm
financial footing,
(I am at present
considering, with the assistance of the
Financial Secretary, to what extent
possible
it may be practicable
to secursing Yo
further revenue by increasing taxation
in various directions and by other
methods,and I shall be addressing you
separately on this point in due course),
(c) the limits in the extent and variety of
development projects which are imposed
by the physical character of the Colony
as compared with that of e.g., a large
undeveloped African territory,
(a) the fact that a great deal of development
of one kind and another has already taken
place under the stimulus of private
that
enterprise and that given the strength
and/
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