Estimates-1959 — Page 159

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HEAD 9. REVENUE FROM INTEREST, LANDS, RENTS, ETC.

Estimate 1958/59

Revised estimate 1957/58

Approved estimate 1957/58

$47,325,200

41,224,900

40,590,700

37,304,753

Actual revenue 1956/57

Revised estimate for 1957/58 is expected to be $634,200 over the amount approved.

For 1958/59 interest should bring in an additional $4 million over the amount approved for this year. Rents on buildings and furniture, market rents and resettlement rents are expected to show substantial increases.

HEAD 10-LAND SALES

Estimate 1958/59

$16,005,000

Revised estimate 1957/58

19,705,000

13,505,000

14,937,000

Approved estimate 1957/58

Actual revenue 1956/57

The large surplus of $6,200,000 in the revised estimate over the approved estimate for this year is due to more sales of land at higher prices. Two lots sold in Hong Kong and one extensive piece of land sold in the New Territories brought in a total of $4.6 million.

The estimate for 1958/59 shows a reduction of $3.7 million when compared with this year's revised estimate.

HEAD 11 — COLONIAL DEVELOPMENT AND WELFARE GRANTS

Estimate 1958/59

Revised estimate 1957/58

Approved estimate 1957/58

$1,723,300

2,051,500

2,804,900

3,459,257

Actual revenue 1956/57

Receipts under this head represent proportionate reimbursement of expenditure on the schemes concerned as detailed fully in the footnotes on expenditure Head 44.

HEAD 12. - LOANS FROM UNITED KINGDOM GOVERNMENT

Estimate 1958/59

Revised estimate 1957/58

Approved estimate 1957/58

$ 8,650,900

12,800,000

12,800,000

10,592,000

Actual revenue 1956/57

Receipts under this head constitute partial reimbursement (approximately 6/17ths) of expenditure under Head 31, subhead 129 - Kai Tak Airport Development, less receipts under revenue Head 5A, subhead 40, item Use of laboratory equipment — Kai Tak.

It has been agreed that issues in 1958/59 should be limited to £540,680 ($8,650,900).