Estimates-1958 — Page 153

PART I — EXPLANATORY NOTES ON REVENUE ESTIMATES

Estimate 1957/58

Revised estimate 1956/57

Approved estimate 1956/57

Actual revenue 1955/56

GENERAL

$507,489,000

498,672,245

449,937,080

454,720,189

434,452,322

Actual revenue 1954/55

For the forthcoming financial year the estimate of recurrent revenue is $478,379,100 compared with $469,594,345 (revised) and $420,842,080 (approved) for 1956/57. The revised estimate for the current year is thus $48,752,265 higher than that approved last March. The following table gives a breakdown of this figure:-

1956-57

Approved Revised

Estimate Estimate

1956-57

Difference

$m

$m

$m

Duties

Rates

83.6

94.5

+ 10.9

50.6

56.8

+ 6.2

Internal Revenue

148.6

163.8

+ 15.2

Licences, Fines and Forfeitures

17.2

19.4

+ 2.2

Fees of Court or Office

32.6

36.8

+

4.2

Water Revenue

9.0

9.1

+ ....1

Post Office

25.1

26.9

+1.8

Kowloon Canton Railway

4.7

7.0

+ 2.3

Revenue from Interest, Lands,

Rents, etc.

32.0

34.5

+ 2.5

Miscellaneous Receipts

17.5

20.8

+ 3.3

420.9

469.6

+ 48.7

The 1957/58 revenue estimates have been framed in the light of these revised figures. The total estimate for recurrent revenue, $478,379,100 represents an increase of $8,784,755 over the revised estimate for the current year arising as follows:-

Revised Estimate 1956-57

Estimate 1957-58

Difference

$m

$m

$m

Duties

Rates

94.5

96.2

+ 1.7

56.8

63.4

+ 6.6

Internal Revenue

163.8

154.2

9.6

Licences, Fines and Forfeitures

19.4

18.4

1.0

Fees of Court or Office

36.8

40.8

+ 4.0

Water Revenue

9.1

12.6

+

3.5

Post Office

26.9

27.6

+

.7

Kowloon Canton Railway

7.0

6.0

1.0

Revenue from Interest, Lands,

Rents, etc.

34.5

40.6

+ 6.1

Miscellaneous Receipts

20.8

18.6

2.2

469.6

478.4

+ 8.8