230
Estimate 1965-66
Revised estimate 1964-65
Approved estimate 1964-65
HEAD 8 — POST OFFICE
$75,083,000
75,033,000
71,113,000
75,029,061
Actual revenue 1963-64
The revised estimate for 1964-65 shows an increase of $3,920,000 over the approved estimate for 1964-65. The increase is mainly due to higher sales of stamps for China packets and an increase in number of licensed franking machines, offset in part by a reduction in conveyance rates. Stamp sales are expected to be maintained at about the same level in 1965-66.
HEAD 9— KAI TAK AIRPORT AND AIR SERVICES
Estimate 1965-66
Revised estimate 1964-65 Approved estimate 1964-65
$20,034,000
20,034,000
18,874,000
Actual revenue 1963-64--
The slight increases in the revised estimate for 1964-65 and the estimate for 1965-66 over the approved estimate for 1964-65 are from the subheads "Airport rents" and Aircraft landing fees”.
HEAD 10 — KOWLOON-CANTON RAILWAY
Estimate 1965-66
Revised estimate 1964-65
Approved estimate 1964-65
Actual revenue 1963-64
$11,919,000
11,923,000
9,823,000
10,771,123
There is an increase in the revised estimate for 1964-65 over the approved estimate for 1964-65 as a result of increased revenue from Goods and Passenger Services. The increased activity is expected to be maintained in 1965-66, but certain revenue now credited to Passenger Services is considered to be more appropriately included in Goods Services, so that the increase reflects mainly in this subhead, and the 1965-66 estimate for Passenger Services remains as in the previous year.
HEAD 11 — REVENUE FROM LANDS, INTEREST, RENTS ETC.
Estimate 1965-66
Revised estimate 1964-65 ·
Approved estimate 1964-65
Actual revenue 1963-64
$130,735,000
123,577,000
112,216,000
107,481,791
The revised estimate for 1964-65 shows an increase of $11,361,000 over the approved estimate for 1964-65, and the estimate for 1965-66 shows a further increase of $7,158,000. The following subheads are mainly responsible for these increases :-
Subhead
Interest
Leased lands
Low cost housing rents
Approved Estimate 1964-65
Revised Estimate
1964-65
Estimate 1965-66
$52,000,000
$59,267,000
$59,885,000
6,000,000
9,000,000
8,870,000
3,700,000
3,610,000
5,781,000
29,100,000
29,100,000
34,400,000
Resettlement rents
The increase in the 1964-65 revised estimate for Interest is due to higher balances than anti- cipated, a general rise of 1% in the rate of interest during the year and more purchasers of land choosing to pay premia by instalments. The increase under Leased Lands is due to new areas being put on lease and transfers from permit to lease status. New subheads for 1965-66 are included for revenue arising from Site permits for transit centres and licensed areas, and for Advances made to Government for Resettlement Accommodation.
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