CO129-623-8 Estimates of Expenditure- includes a report for the year ending March 1951 1-12-1949 - 31-3-1951 — Page 20

20

19

Sow 853

1018150

Gym Palmer

In Hall

(19) in Hong Kong's quarterly

revenne

expenditure.

review

1

The latest figure for the 1949/50 sumphro

is $81,700,000

simpans balances

Revenne

nominal

guring amounting

to $154,000,000.

expenditure for the first

quarter of 1950/51 are

Sumpters for the quarter

at the

same rate

as

such that the

is pretty well

last

surplus i.e. $20,000,000 3 months. However

first quenter

expenditure

The year

in

Q

1

alway

year

for the

in pointed out

low in

the

or will mount later

Li

so that present indicationi

to be that the so/s1

seem therefore

sumpho will not be as

Jean's

In view of this adverse effects of

in the F.E.

on

the

lange

as last

of the possibly

international situation

H.K's revenue, together

with the possibility that further expenditure on

defence may

be

necessary,

the O.A.G.

has decided that it would be imprudent to contine expenditure at the level provided for in the Saturates; he has therefore instructed heads of Departments to take Certani steps to economise

A further despatch is promised

on

the question of transferring some Loan expenditure to Expenditure to be met from the empleo revenue $62,000,000

balances.

Khan of loan expenditure

Page 20Page 21

has so