ENG-1951 — Page 42

III

PUBLIC FINANCE AND TAXATION

The Revenue and Expenditure figures since 1st May 1946, are as

follows:--

Revenue

Expenditure

Surplus

Deficit

$

1946/47 (11 months)

$ 82,141,556 85,624,391

$

$

3,482,835

1947/48

1948/49

1949/50

164,298,310 127,701,174 36,597,136 194,933,955 159,954,023 34,979,932 264,250,543 182,121,726 82,128,817

1950/51

291,728,416 251,684,523 40,043,893

1951/52 (Estimates)

247,799,850

234,669,050

13,130,800

The cumulative surplus at 31st March 1951 amounted to $192,906,704.

Present indications are that the surplus for 1951/52 will be higher than the figure of $13,130,800.

Revenue

The principal revenue items for 1949/50 and 1950/51 in round figures were:

(a) Duties on Liquor, Hydrocarbon Oils, Tobacco, Proprietary Medicines, etc.

(b) Rates (Assessed Taxes)

(c) Internal Revenue, including Enter- tainment Tax, Estate Duty, Stamp Duties, Meals & Liquor Tax, Betting & Sweeps Tax, Earnings

1949/50

1950/51

68,797,000 71,653,000

19,286,000 27,253,000

& Profits Tax and Dance Hall Tax 72,580,000 85,552,000

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(d) Water Revenue

(e) Postal Revenue

(£) Kowloon Canton Railway

7,657,000

8,155,000

12,235,000 14,547,000 7,678,000 10,251,000