SAVINGRAM
To the Secretary of State for the Colonies.
From the Governor, Hong Kong.
Date
No.
3
40
9.
The revised estimate of revenue for the financial year 1949/50 is now $248,500,000., representing an increase of approximately $68,250,000. over the original figure of $180,151,370. The revised estimate of expenditure totals $185,500,000., but if, as is proposed, a supplementary payment is made to the sinking fund of the 3% Rehabilitation Loan, this will be increased to $190 million, providing a surplus on the year's working of about $58 million.
10.
In this event, the General Revenue Balance, which stood at $72,143,683 on the 1st April, 1949, will by the 1st April, 1950, have risen to approximately $130,000,000.
11.
As
Recorded expenditure from Loan funds up to the 31st December, 1949, totalled $100,477,608. you are aware, only $50,000,000 has yet been raised by the issue of Bonds, and the balance of $50,477,608 has been met from surplus balances.
Com
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