CO129-597-3 Estimates 1950 22-2-1949 - 3-11-1950 — Page 38

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Sec. Ref. 16/4841/48 C.

SAVINGRAM

To the Secretary of State for the Colonies.

From the Governor, Hong Kong.

Date

1st.

No. 247 Conf.

(22)

March 1950

My Savingram No. 893 of the 3rd November, 1949.

Financial Position and Policy.

Final figures of revenue and expenditure for the first six months of the present financial year, April 1st, 1949, to September 30th, 1949, are as follows:

2.

Revenue Expenditure

Surplus

$107,184,024.--

83,392,779.--

23,791,245.--

The estimated position as on December 31st,

1949, is as follows:

Revenue Expenditure

Surplus

$190,000,000.-

125,250,000.--

$64,750,000.--

Expenditure, however, will tend to be heavy during the last quarter of the year.

3.

Particulars of revenue so far recorded under the most important Heads are as follows:

Estimate (12 months)

Actual so far recorded.

(9 months)

$

Liquor Duties.

8,750,000

10,051,000.

Tobacco Duties.

16,250,000

25,891,000.

Other Duties.

9,250,000

14,062,000.

Entertainment Tax

3,500,000

5,005,000.

Stamp Duties

9,400,000

9,520,000.

Bets and Sweeps Tax

3,500,000

4,165,000.

Earnings & Profits Tax 40,000,000

Water Revenue

Post Office

Royalties

23,513,000. (Heaviest

payments occur during last quarter)

4,871,800

5,620,000.

7,600,000

8,601,000.

4,385,000

5,488,000