CO129-623-9 Estimates of Expenditure- includes a report for the year ending March 1952 1-2-1951 - 30-11-1951 — Page 127

Kowloon-Canton Railway.

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The estimate of $7,605,000 is 601,000 higher than the original estimate for 1950/51 and 2,728,000 lower than the revised estimate. There has already becon a falling off in the case of goods traffic for the closing months of the current year, but passenger traffic has been well maintained.

Revenue from Land Sales etc.,

The estimate of 9,495,100 is $3,294,000 higher than the original estimate for 1950/51 and 393,057 higher than the revised estimate. The increase is largely due to additional interest payments amounting to some 24 million on the Colony's surplus balances.

Miscellaneous Receipts.

The estimate of $10,325,100 is $2,535,100 higher than the original estimate for 1950/51 and 5,618,896 lower than the revised estimate. Roccipts from royalties from transport companies reached a high r level then was anticipated and, in addition to the usual population factor, the introduction of double-decker buses in Kowloon was to some extent instrumental in producing this result.

The revised estimate for the current year was also swollen by several abnormal receipts which will not be repeated. There were refunds in respect of weapons returned by the Defence Force and in respect of freight charges on requisitioned railway material which were met by this Government. There was also a substantial transfer to revenue in respect of stores which were originally believed to have been supplied by His Majesty's Government but which were subsequently found to have been charged to Hong Kong funds.

Colonial Development & Welfare Fund Grants.

Revenue under this Head offsets the expenditure provided for under Hoad 5 in respect of schemes for which grants from the Colonial Development & Welfare Fund have been approved.

Land Sales.

The estimate of $2,610,000 is 140,000 lower than the original estimate for 1950/51 and $1,742,469 lower than the revised estimate. It is anticipated that fewer sales of land will take place during 1951/52 than during the present year.

Expenditure.

Expenditure is estimated at $233,465,137. This represents a decrease of nearly $17 million as compared with the revised estimate for 1950/51, (which contained an abnormal item of $50 million loan advances charged off to expenditure), and an increase of a little over $32 million over the approved estimate for that year. This large increase over the approved expenditure figure for the current year occurs almost entirely under Other Charges and Special Expenditure, particularly unuer the latter, due to the necessity for a large number of re-votes owing to delays in the execution of orders. There are also some very large provisions which were not included in the current estimates. For example, the approved estimate for 1950/51 contained no provision for a contribution