CO129-591-7 Estimates for 1946-1947 12-12-1945 - 14-3-1947 — Page 79

2.

The

will agree that this represents a very remarkable recovery.

revised estimate for 1946-47 actually exceeds the pre-war revenue (exclusive of Income Tax) which amounted to $47,486,000 but it

must be remembered in making the comparison that a number of measures designed to increase revenue were introduced during 1941

and that the full effect of these is only being felt today.

Certain measures to increase Revenue have also already

A surcharge been taken since the re-occupation of the Colony.

4.

of 20 cents per 1,000 gallons in respect of charges for water has been levied. This was estimated to bring in $1,493,000 and

to ensure that a small profit would be made on the supply of water. Costs particularly labour costs have however risen

- ·

since then and a further increase is now under consideration. A

surcharge of 25% has been levied, as an interim measure, on port dues and the question of placing Pilotage dues and Light dues on a tonnage basis instead of on a flat rate is being actively studied. The basis on which mooring buoy dues are levied may

also be changed and this will all help to increase our Revenue, though the full effect will not be felt until probably 1947 by

which time commercial shipping should be using the port on a normal scale. Railway fares between Hong Kong and Canton have

been raised with a resulting increase in Revenue from the British Section. It is proposed to undertake a comprehensive

review of licence fees as a number of these could be increased

without causing hardship. The additional revenue obtained

would not however be considerable.

5.

The question of resuming the collection of taxes

under the War Revenue Ordinance or of introducing Income Tax

on normal lines has been engaging my attention.

Section 73

of the War Revenue Ordinance provides that no tax shall be

collectable in any year of assessment subsequent to the year