sec, Ref. 16/4841/48.
14.50
SAVINGRAM
To the Secretary of State for the Colonies.
From the Governor, Hong Kong.
Date 10
August, 1950.
No. 853
CONFIDENTIAL
19
56
26
1944
My confidential savingram No.247 of 1st
March, 1950.
Financial Position and Policy.
An indication of the surplus accruing in respect of the year ending 31st March, 1950, was given in my
estimates despatch No.57 of 1st June, 1950. The final figures for 1949/50 are not yet available but the latest figures are:-
Revenue Expenditure
Surplus
$264,250,208 182,474,497
$ 81,775,711
As the General Revenue Balance at 1st April, 1949, amounted to $72,143,683, the surplus on 1st April,1950 reached the sum of $153,919,394.
2.
Estimated figures for Revenue and Expenditure for the first three months of the current financial year
are:
Revenue Expenditure
Surplus
$65,188,641
$45,148,738
$20,039,903
These figures include estimates of Railway revenue and for Crown Agents Accounts for June in which month $4,000,000 was paid to H.M. Treasury, as the first quarterly payment towards the cost of reinforcing the garrison, in accordance with the terms of the financial settlement with H. M. Government.
3.
Particulars of Revenue so far recorded under the more important heads are as follows:-
Liquor Duties
Proportionate Estimate for 1st Quarter
Approved Estimates 1950/51
6,000,000
$1,500,000
Tobacco Duties
18,000,000
4,500,000
Other Dutie s
12,000,000
3,000,000
Rates
21,518,000
5,379,500
Entertainment
5,000,000
1,250,000
2,000,000
500,000
12,000,000
3.
1 4 AUG 1951
Tax Estate Duty Stamp Duties
Actual so far recorded for 1st Quarter
$3,664,303 9,505,096 5,069,519 6,645,946
2,056,829 615,881 2,856,545