PART I — EXPLANATORY NOTES ON REVENUE ESTIMATES
Estimate 1957/58
Revised estimate 1956/57
Approved estimate 1956/57
Actual revenue 1955/56
GENERAL
$507,489,000
498,672,245
449,937,080
454,720,189
434,452,322
Actual revenue 1954/55
For the forthcoming financial year the estimate of recurrent revenue is $478,379,100 compared with $469,594,345 (revised) and $420,842,080 (approved) for 1956/57. The revised estimate for the current year is thus $48,752,265 higher than that approved last March. The following table gives a breakdown of this figure:-
1956-57
Approved Revised
Estimate Estimate
1956-57
Difference
$m
$m
$m
Duties
Rates
83.6
94.5
+ 10.9
50.6
56.8
+ 6.2
Internal Revenue
148.6
163.8
+ 15.2
Licences, Fines and Forfeitures
17.2
19.4
+ 2.2
Fees of Court or Office
32.6
36.8
+
4.2
Water Revenue
9.0
9.1
+ ....1
Post Office
25.1
26.9
+1.8
Kowloon Canton Railway
4.7
7.0
+ 2.3
Revenue from Interest, Lands,
Rents, etc.
32.0
34.5
+ 2.5
Miscellaneous Receipts
17.5
20.8
+ 3.3
420.9
469.6
+ 48.7
The 1957/58 revenue estimates have been framed in the light of these revised figures. The total estimate for recurrent revenue, $478,379,100 represents an increase of $8,784,755 over the revised estimate for the current year arising as follows:-
Revised Estimate 1956-57
Estimate 1957-58
Difference
$m
$m
$m
Duties
Rates
94.5
96.2
+ 1.7
56.8
63.4
+ 6.6
Internal Revenue
163.8
154.2
9.6
Licences, Fines and Forfeitures
19.4
18.4
1.0
Fees of Court or Office
36.8
40.8
+ 4.0
Water Revenue
9.1
12.6
+
3.5
Post Office
26.9
27.6
+
.7
Kowloon Canton Railway
7.0
6.0
1.0
Revenue from Interest, Lands,
Rents, etc.
34.5
40.6
+ 6.1
Miscellaneous Receipts
20.8
18.6
2.2
469.6
478.4
+ 8.8