ENG-1950 — Page 37

III.

PUBLIC FINANCE AND TAXATION.

The Revenue and Expenditure figures since 1st May 1946 are as follows:-

Revenue Expenditure Surplus

$

$

1946/47 (11 months)

1947/48

82,141,556 164,298,310

85,624,391

127,701,174 36,597,136

1948/49

1949/50

194,933,955 159,954,023 34,979,932 264,250,543 182,121,726 82,128,817

Deficit

$

3,482,835

1950/51 (Estimates)

204,139,480 200,839,083 3,300,397

The cumulative surplus at 31st March 1950 amounted to $154,152,842.

Present indications are that the surplus for 1950/51 will be higher than the figure of $3,300,397 originally estimated.

Revenue

The principal revenue items for 1948/49 and 1949/50 in round figures were:

1948/49

1949/50

(a) Duties on Liquor, Hydrocarbon Oils,

Tobacco, Proprietary Medicines, etc. 41,111,000 68,797,000

(b) Rates (Assessed Taxes)

(c) Internal Revenue, including Enter-

tainment Tax, Estate Duty, Stamp Duties, Meals & Liquor Tax, Betting & Sweeps Tax, Earnings & Profits Tax and Dance Hall Tax

(d) Water Revenue

(e) Postal Revenue

(f) Kowloon Canton Railway

(g) Miscellaneous Fees, Payments for Services and Sales of Government Property

(h) Miscellaneous Licences, Fines and

Forfeitures

-

(i) Miscellaneous Receipts, including

Royalties

14,984,000 19,286,000

70,513,000 72,580,000 6,312,000 7,657,000 9,325,000 12,235,000

7,000,900 7,678,000

14,342,000 22,677,000

13,195,000 13,292,000

6,785,000 10,553,000

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