III
PUBLIC FINANCE AND TAXATION
The Revenue and Expenditure figures since 1st May 1946, are as
follows:--
Revenue
Expenditure
Surplus
Deficit
$
1946/47 (11 months)
$ 82,141,556 85,624,391
$
$
3,482,835
1947/48
1948/49
1949/50
164,298,310 127,701,174 36,597,136 194,933,955 159,954,023 34,979,932 264,250,543 182,121,726 82,128,817
1950/51
291,728,416 251,684,523 40,043,893
1951/52 (Estimates)
247,799,850
234,669,050
13,130,800
The cumulative surplus at 31st March 1951 amounted to $192,906,704.
Present indications are that the surplus for 1951/52 will be higher than the figure of $13,130,800.
Revenue
The principal revenue items for 1949/50 and 1950/51 in round figures were:
(a) Duties on Liquor, Hydrocarbon Oils, Tobacco, Proprietary Medicines, etc.
(b) Rates (Assessed Taxes)
(c) Internal Revenue, including Enter- tainment Tax, Estate Duty, Stamp Duties, Meals & Liquor Tax, Betting & Sweeps Tax, Earnings
1949/50
1950/51
68,797,000 71,653,000
19,286,000 27,253,000
& Profits Tax and Dance Hall Tax 72,580,000 85,552,000
36
(d) Water Revenue
(e) Postal Revenue
(£) Kowloon Canton Railway
7,657,000
8,155,000
12,235,000 14,547,000 7,678,000 10,251,000