CO129-550-1 Estimates 1935 14-9-1934 - 15-9-1934 — Page 40

Appendix A (1)

HONG KONG.

REPORT ON THE FINANCES FOR THE YEAR 1934.

The Revenue for the year amounted to $29,574,286 and the Expenditure was $31,149,156. Expenditure therefore ex- ceeded Revenue by $1,574,870. The approved estimated revenue for the year was $31,731,626 while the revised figure was $29,670,634, a decrease of $2,060,991. The approved estimate of expenditure for the year was shown as $33,442,695, and the revised estimate amounted to $30,893,000. The actual expenditure was $256,156 above the revised estimates.

2. The following statement shows the Revenue and Ex- penditure for each of the years of the last decade:

Year.

Revenue. Expendi-

Surplus.

Deficit.

ture.

$

$

明

$

5,022,452

2,393,134

499,471

1925...... 23,244,366 28,266,818

1926...... 21,131,582 23,524,716

1927...... 21,344,536 20,845,065

1928...... 24,968,399 21,230,242 3,738,157

1929..... 23,554,475 21,983,257 1,571,218

1930...... 27,818,473 28,119,646

1931...... 33,146,724 31,160,774 1,985,950

1932...... 33,549,716 32,050,283 1,499,433

1933...... 32,099,278 31,122,715

301,173

976,563

1934...... 29,574,286

31,149,156

1,574,870

REVENUE.

3. The largest individual item of revenue is derived from the assessment tax, the sum of $6,603,229 being collected. This represents 22.33% of the total revenue or 22.76% of the revenue exclusive of land sales.

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