Estimates-1970 — Page 305

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following the prosperity of 1968. The Stamp Duties yield, revised upward by $10,000,000 for 1968-69 and by a further $2,000,000 for 1969-70, reflects the improvement in the property market but in addition there was marked increase in the volume of contract notes and bills of exchange and these documents paid higher rates of duty. A large increase in the number of motor vehicles occurred during the first half of 1968-69 and although it was anticipated that this rate would not be maintained during the second half it is estimated that registration will continue at a high level throughout 1969-70.

HEAD 4 LICENCES AND FRANCHISES

Licences Franchises

Total

Estimate 1969-70 Revised estimate 1968-69 Approved estimate 1968-69 Actual revenue 1967-68

Subhead

Approved Estimate

1968-69

$48,125,100

46,175,000

$94,300,100

$ 99,908,400 98,457,100

94,300,100

104,010,167

Revised Estimate 1968-69

Estimate

1969-70

$48,678,400

$50,587,600

49,778,700

49,320,800

$98,457,100

$99,908,400

The increase of $4,157,000 in the revised estimate for 1968-69 stems mainly from royalties connected with transportation and from taxi concessions. Transport licences and royalties are also largely instrumental in the further increase expected during 1969-70 but revenue from telecommunications licences and television royalties is also expected to be significantly higher.

HEAD 5- FINES, FORFEITURES AND PENALTIES

Estimate 1969-70

Revised estimate 1968-69 Approved estimate 1968-69

Actual revenue 1967-68

$10,320,900

10,311,900

8,680,000

11,329,859

Revenue, particularly from fines and forfeitures, under this head is not susceptible to close estimation and the increased revised estimate for 1968-69 is the correction of earlier underestimation. Settlement in late 1967-68 of a large penalty included in the 1968-69 "Penalties" estimate is the reason for the lower revised 1968-69 estimate for this subhead. The increase estimated for 1969-70 under this head is based on the revised figures for 1968-69.

Estimate 1969-70

HEAD 6- FEES OF COURT OR OFFICE

Revised estimate 1968-69 Approved estimate 1968-69 Actual revenue 1967-68

$142,158,400

131,605,000

132,623,300

120,913,232

The revised estimate for 1968-69 is $1,018,300 lower than the original estimate for the year whereas the estimate for 1969-70 shows an increase of $10,835,100 over 1968-69 approved figure. The estimates for the subheads are:-

Subhead

Fees

Receipts

Reimbursements

Sales

Total

Approved Estimate

1968-69

$ 46,631,500 35,222,700

33,496,600

17,272,500

$132,623,300

Revised Estimate 1968-69

Estimate 1969-70

$ 48,878,900

$ 49,751,200

34,329,000

38,641,000

34,238,400

37,706,900

14,158,700

16,059,300

$131,605,000

$142,158,400

Fees:-

The high growth rate of the Colony's trade is the reason for the increase in revenue from fees under "Import and export declarations" anticipated by the revised estimate for 1968-69 and the estimate for 1969-70. Substantially more is also expected from "Examination fees" for the English and Chinese Certifi- cates of Education. The contribution made by School Fees to the revised estimate for 1968-69 was decreased as a result of reductions in fees in 1968. A further decrease in this item will be shown as a result of the proposal to reduce fees for primary schools from their present level of $40 a year in ordinary urban schools and $30 in resettlement schools (other than in the New Territories) to $20 in both cases.

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