44
HONGKONG LEGISLATIVE COUNCIL
Public Works, Recurrent Public Works, Extraordinary
Post Office
Kowloon-Canton Railway
Special Expenditure
Pensions
Charitable Services
Total
THE ESTIMATES.
H.E. THE GOVERNOR-Hon. members of the Legislative Council. In in- troducing the Estimates last year, I stated that the expenditure for 1919 was then expected to amount to $15,078,600 leaving out of account the transactions in connection with the purchase and sale of rice. Actually the expenditure, including these transactions, amounted to 17,915,925. The revised estimate of revenue for 1919 was $17,056,410, but only $16,524,975 was realised, with the result that the balance of assets over liabilities on 31st December, 1919. was $4,290,188, instead of the esti- mated sum of $7,658,948.
are
at
than
840,600 will result from an increase in fees. For
Duties
put 4,967,400 example, Stamp
292,317 $2,100,000 in place of $1,100,000 it being 515,998 the intention to increase considerably the 382,310 majority of fees which are paid in stamps. 312,900 A committee is now sitting to consider the 66,572 | details of the changes which are necessary to secure this result. The necessity for $14,084,662 taking steps to increase the revenue in this way arises from the fact that, as I pre- dicted last year in speaking on the
the Budget debate,
revenue from the Opium Monopoly has been still further diminished. There has been during the current year a considerable reduction in the consumption of the Monopoly's pro- duct, a position which, though unfortunate in its financial aspect, is gratifying from a wider point of view. On the latest figures available we do not feel justified in anticipating a revenue of more $4,000,000 from this source in 1921, that is a reduction of $2,000,000 compared with the figures inserted in the Estimates for 1920. With the growing expense of ad- ministration it is not possible to face this large reduction without replacing it, or a considerable part of it, from other sources. The other decreases in heads of revenue are not large; $28,000 is anticipated in place of $36,000 from hawkers' licences, owing to the reduction in the number of licences due to the policy of keeping the streets reasonably clear; a reduction has been made of $9,000 on a total of $284.000 in respect of liquor licences; and there is a falling off of some $7,000 in respect of Slaughter House receipts, which estimated at $105,600. In both these cases the figures are based on the revised estimates for 1920. Rent of Buildings is less by the rent of the Old Post Office which is now to be sold, and Rent of Lands is decreased owing to the proposed taking over by the Government of the site oppo- site the Central Market; interest is estimated at $260,000 in place of $320,000 for the current year.
It is now estimated that the revenue for the current year will amount to $14,177.478 01 $1,137,322 less than the original estimate. The deficit is more than account- ed for by the reduction in the revenue from the Opium Monopoly from $6 million to $43 million.
The expenditure for 1920 is now esti- mated at $13,768,830 or $1,117,643 less than the orginal estimate, the difference being due to the fact that over $1 million less is being spent on Public Works Ex- traordinary than was originally antici- pated.
The programme for 1920 was, perhaps, of a somewhat ambitious character and owing to the difficulties of obtaining supplies due to the disturbed state of the world in general it has proved impossible to carry out all the works which it was hoped to undertake.
The balance of assets at the end of the current year is now estimated at $4,698,835.
Increased Stamp Duties
are
Increased Revenue Expectations
I may call attention to the following increases: On page 7 a sum of $60.000 respect of Kowloon East is inserted in Ferry licences. The service to Yaumati The specific sums which we expect to and Shamshuipo, recently established receive under each sub-head of revenue are under Government supervision, has proved shown at pages 6 to 12 of the estimates very successful, and it is intended to before you. It will be seen from the foot- regulate on similar lines the ferries run- Kowloon City, and notes that a number of items are to be ning to Hunghom, revised and the figures which are given Shankiwan with a view to the improve.
for 1921 include the additional sum which' ment of the service.