200
HEAD 10 — REVENUE FROM LANDS, INTEREST, RENTS, ETC.
Estimate 1963-64
Revised estimate 1962-63.
Approved estimate 1962-63
Actual revenue 1961-62
$91,399,000
87,406,000
71,105,000
71,244,676
The revised estimate for 1962-63 shows an appreciable increase of $16,301,000 over the approved estimate. Estimate for 1963-64 shows a further increase.
The following subheads are mainly responsible for the increase:-
Subhead
Approved Estimate
Revised
Estimate
Increase
1962-63
1962-63
Interest
$30,000,000
$41,800,000
$11,800,000
Leased lands...
4,400,000
7,000,000
2,600,000
Resettlement rents
16,100,000
16,700,000
600,000
Remarks
Interest rates and balances were higher than anticip- ated.
More lands on annual lease in the ex-Naval Yard, Kowloon and Hung Hom Reclamation.
More Multi-Storey Blocks completed and the cessa- tion of debits for salt water flushing in Resettlement Estates.
Estimate 1963-64
Revised estimate 1962-63
Approved estimate 1962-63
Actual revenue 1961-62
HEAD 11 — LAND SALES
$146,410,000
185,000,000
106,006,000
90,274,650
The revised estimate for 1962-63 represents an increase of $78,994,000 or 57% over the approved estimate. This is due to more land sales a trend which is expected to continue in 1963-64 and more than balances the decrease on private treaty grants following the new policy affecting housing schemes for local Government officers.
concerned.
Head 82.
HEAD 12-COLONIAL DEVELOPMENT AND WELFARE GRANTS
Estimate 1963-64
Revised estimate 1962-63
Approved estimate 1962-63
Actual revenue 1961-62
$ 13,000
43,000
5,000
309,197
Receipts under this Head represent proportionate reimbursement of expenditure on the schemes
HEAD 13 — WORLD REFUGEE YEAR GRANTS
Estimate 1963-64
Revised estimate 1962-63
Approved estimate 1962-63
Actual revenue 1961-62
$3,449,000
64,000
2,737,000
3,556,756
These receipts represent reimbursements of expenditure on the projects set out in Expenditure