CO129-623-8 Estimates of Expenditure- includes a report for the year ending March 1951 1-12-1949 - 31-3-1951 — Page 2

1. Gor

Im Holl

In Palmer

tel. 196.

24-2-50.

2

1.

The

telegram

at (1) contamis

a

financial

Summary of Hong Kong's shimmiated revenue and expenditure for the year 1950/51. Expenditure is 1973/50 estimated figure (see (!)

up

from the

on — /49)

of $179'14 million to $199 million. Revenne, which last you ( see (1) on (49) was estimated at $1793/4 million total

(including $16 million grant by H.MG),

has in fact

this

very

estimate

مه

a

من

amounted

to $249 million

considerable increase over the

described

"windfall"

Opposite the

"

and

reasons

by

ni

the

Governor

para. 5 of (1)

for

are detailed.

باشد سلام

Revenue for 1950/5; on

the present

taxation basis is estimated at $192 mition

last

view of year's

and although,

in crew

results and the continuing prosperity of Hong Kong, it would I

unagine

be

surprising if this estimate were not exceeded the Corvernor does not

consider it prudent to budget for

greater revenue

I

unagune

than

a

the bave $192 milion

that we shall offer

no

objection to this line as, it seems to mes

الم