Focs of Court. The estimate of $8,561,700 is $1,133,250 in cxcess of the original cstimato for 1947/48 and 87,335 abovo the rovised cstimato. A number of focs worc incrcascd during the year, thus accounting for the higher revised estimate. The full offcct of those increases was not folt during tho year just closing so, even though some allowance has been made for a diminution in the volume of trade, the 1948/49 cstimato slightly exccods the revised estimate for the present year.
Water Revenue. The estimate of $4,851,600 is $10,600 morc than the original estimate for 1947/48 and $12,000 less than the rovised estimate for that yoar.
Post Office. The estimate of $6,165,000 is $2,530,000 morc than the original estimate for 1947/48 but $1,235,000 loss than the revised estimate for that year. Stamp salcs during 1947/48 have been greatly in cxcess of the figuro anticipated owing to the rapid expansion in tho Colony's trade, but it is not expected that this level of sales will be maintained.
Kowloon-Canton Railway. The estimate of $5,362,000 is $6,700 morc than the original estimate for 1947/48 and $1,338,000 lcss than the rovisod cstimate. The continued restrictions imposed by the Chinose Government on imports naturally have an advorso offcct on goods traffic, and it is considered that it would bo unwisc to count on revenue for the coming year being maintained at the 1947/48 lcvcl.
Rcvc nuc from Land Rents. The estimate of $3,313,100 is $1,032,300 more than the original cstimate for 1947/48 but $272,700 less than the revised estimate.
Miscellaneous Roccipts. The estimate of $4,101,100 is $917,000 more than the original estimate for 1947/48 and $85,459 lcss than the revised estimatc. In framing this ostima to, allowance has been made for increased royaltics from the bus companies as morc buscs come into service, but this is offset by the fact that the revised estimate for the present year includcs considerable arrears of payments duc in respect of radio and tolograph concessions.
Land Salcs. The estimate of $3,020,000 is $2,610,000 loss than the original estimato for 1947/46 and $5,880,000 icss than the revised cstimato. Some valuable sites in the contro of the city were put up for sale during the prosent year but sales of this typc are unlikely during 1948/49.
225
EXPENDITURE
Heads of Departments wore informod that no now scrvices would be approved unless an exceptionally strong casc in support of the increased expenditure could be put forward. All departmental cxpenditurc has boon caro fully cxamined and cfforts have boon made to reduce it to the minimum noccssary to maintain officicncy.
The effect of the salarios rovision is apparent throughout the Estimates and Personal Emoluments, which cover basic salarics only, arc now ostimated at $41,062,521, to which must be added the figure of $22,500,000 provided under the Miscellaneous Scrvices Hc ad in rospect of cost of living allowance, together with a similar figure under the Railway Hoad amounting to $600,000. This brings the total cstimated cxpenditure on salarics, allowances, ctc. to $64,162,521 as compared with a sum of $48,867,991 which is cstimated to bc
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