198
Revised
Estimate
estimate
Difference
1963-64
1962-63
$M
$M
$M
Total Recurrent Revenue
993.9
1,025.2
+ 31.3
Internal Revenue (Estate and Excess
Stamp Duties) ..
24.0
20.0
4.0
Fees of Court or Office (Repayments of
Loans and Contributions)
4.7
2.1
2.6
Land Sales
185.0
146.4
38.6
Colonial Development and Welfare Grants
World Refugee Year Grants
0.1
3.4
+ 3.3
Total Revenue
1,207.7
1,197.1
10.6
HEAD 1— DUTIES
Estimate 1963-64
Revised estimate 1962-63
Approved estimate 1962-63
Actual revenue 1961-62
$203,400,000
196,300,000
185,800,000
175,799,304
The revised estimate for 1962-63 shows an increase of $10,500,000 over the approved estimate for 1962-63 and $20,500,000 over the actual revenue collected in 1961-62. For 1963-64 all subheads share in the increase and "Import duty on hydrocarbon oils" alone is expected to contribute thereto in the sum of $5,000,000.
HEAD 2 — RATES
Estimate 1963-64
Revised estimate 1962-63 Approved estimate 1962-63
Actual revenue 1961-62
$141,050,000
129,400,000
128,550,000
116,298,736
The estimate for 1963-64 shows a marked increase of $12,500,000 compared with the approved estimate for 1962-63. This is due to the continued building development in the Colony.
HEAD 3— INTERNAL REVENUE
Estimate 1963-64
Revised estimate 1962-63
Approved estimate 1962-63
Actual revenue 1961-62 ..
$346,400,000
343,041,000
326,300,000
319,656,541
The estimate for 1963-64 shows an increase of $20,100,000 over that approved for 1962-63 and $3,359,000 over the 1962-63 revised figure; "Earnings and profits Tax❞ accounts for most of the increase.
HEAD 4 - LICENCES AND FRANCHISES
Estimate 1963-64
Revised estimate 1962-63
Approved estimate 1962-63
Actual revenue 1961-62 ....
$60,771,000
56,632,000
55,375,000
51,260,346
Both the revised estimate for 1962-63 and the estimate for 1963-64 show increases compared with the approved estimate for 1962-63. The totals for Licences and Franchises are summarized below:-
Licences
Franchises
Total
Subhead
Approved Estimate
1962-63
Revised Estimate 1962-63
Estimate 1963-64
$26,362,000
$26,845,000
$27,610,000
$29,013,000
$29,787,000
$33,161,000
$55,375,000
$56,632,000
$60,771,000