CONFIDENTIAL
Legislative Council to announce the increase. An additional advantage of an early announcement was that the Urban Council, which derives a significant slice of its revenue from the rates, was pressing to know how much revenue it could expect from this source next year so that it could make plans accordingly.
4. I asked the Governor whether the announcement of the increase in rates, anticipating, as it did, a matter which would otherwise have been covered in the budget statement, would be interpreted locally as a "mini-budget". The Governor said
that would not be so. The announcement would be seen as a "preview" of one matter only to be covered in more detail in the budget statement. The Governor repeated that the decision now taken about the increase in rates and the fact that it was to be announced would in no way prejudice the scenario for the budget that he had sketched at his meeting with Lord Goronwy- Roberts.
5. I thanked the Governor for letting us know of his intentions and said that I would inform those concerned here, including Lord Goronwy-Roberts. The Governor will be sending the text of his announcement.
J. F. Meil
D F Milton
Hong Kong Department
4 January 1976
cc:(without attachment) Mr Smith (Economists) Mr Maud (FRD)
Mr Lipsey
Mr Stewart o.r.
The timing is clearly
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