CO129-584-2 Estimates 1941-2 21-2-1941 - 11-6-1941 — Page 357

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42.

Government House,

Hong Kong.

427

20th February, 1941.

My Lord,

NOT YET REC'D.

I have the honour to refer to my despatch No.11 of 15th January, 1941, with which I transmitted copies of the draft estimates of revenue and expenditure for 1941-42 as introduced into Legislative Council on 16th January, 1941, and Y RED also to my despatch No.16 of 22nd January, 1941, with which I

transmitted a copy of the speech made by the Financial Secretar at the meeting of the Legislative Council on 16th January, 1941. Enclosure No.1! now transmit copies of the revised draft estimates which

were approved by the Legislature after a debate on 20th

February, 1941.

2,

No changes have been made in the original estimates

of revenue except to allow for the additional duties on

hydrocarbon oils and liquor and the new duty on table waters

which were imposed, by orders under my hand, on 16th January, 1941. The additional duties on hydrocarbon oils are expected

to bring in $1,000,000 per annum, the additional liquor duties

$650,000 and the new duty on table waters $300,000. The

revenue from duties will, it is now estimated, amount to

bringing the total

$15,690,000 instead of $13,740,000,

estimated revenue to $56,786,000.

Further proposals to

increase the entertainments tax and estate duty will be placed

before the Legislature in the near future.

3.

The changes made in the estimates of expenditure on

the advice of the Select Committee were detailed in a speech

made by the Colonial Secretary when reporting to the Council

the work of the Select Committee and moving the approval of the THE RIGHT HONOUR ABLE

LORD MOYNE OF BURY ST. EDMUNDS, D.S.O.,

&c

&c., &c.