2
Sec. Ref. 16/4841/48 C.
SAVINGRAM
To the Secretary of State for the Colonies.
From the Governor, Hong Kong.
Date
1st.
No. 247 Conf.
(22)
March 1950
My Savingram No. 893 of the 3rd November, 1949.
Financial Position and Policy.
Final figures of revenue and expenditure for the first six months of the present financial year, April 1st, 1949, to September 30th, 1949, are as follows:
2.
Revenue Expenditure
Surplus
$107,184,024.--
83,392,779.--
23,791,245.--
The estimated position as on December 31st,
1949, is as follows:
Revenue Expenditure
Surplus
$190,000,000.-
125,250,000.--
$64,750,000.--
Expenditure, however, will tend to be heavy during the last quarter of the year.
3.
Particulars of revenue so far recorded under the most important Heads are as follows:
Estimate (12 months)
Actual so far recorded.
(9 months)
$
Liquor Duties.
8,750,000
10,051,000.
Tobacco Duties.
16,250,000
25,891,000.
Other Duties.
9,250,000
14,062,000.
Entertainment Tax
3,500,000
5,005,000.
Stamp Duties
9,400,000
9,520,000.
Bets and Sweeps Tax
3,500,000
4,165,000.
Earnings & Profits Tax 40,000,000
Water Revenue
Post Office
Royalties
23,513,000. (Heaviest
payments occur during last quarter)
4,871,800
5,620,000.
7,600,000
8,601,000.
4,385,000
5,488,000