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facilities.
this year.
10.
This is 16% more than we shall spend
An area of interest to us all is law and order.
Here we shall be spending next year nearly 1,000 million dollars or nearly 12% of the total budget. This is
20% more than we shall have spent this year. Among other things, this increase will enable us to expand the Police Force by 1,400 men and women and maintain the Force at or near full strength. The Government is determined to continue the fight against violent crime.
11.
The revenue estimates show that we shall be
collecting about 170 million dollars more than we shall need to finance these vast expenditure programmes. And I say vast because let us not forget that in the last year of the 1960s we spent a mere one quarter of what we are planning to spend in the coming year. But, given the satisfactory state of our reserves, I proposed this afternoon that we should forego about 130 million dollars worth of next year's revenue in order to implement certain tax concessions and reforms.
12.
In the first place, I proposed a relief scheme
for ratepayers who, despite the reduction in the total charge from 18% to 11%, will be faced with a substantial
increase in rates because of the increase in rateable
values.
13.
Secondly, I proposed improved basic personal allowances and child allowances for salaries and personal
assessment taxpayers. The effect will be to remove 60,000 taxpayers from the tax net and another 150,000 mainly at the lower end of the tax range will enjoy some benefit. Those taxpayers on about 3,000 dollars
a month will enjoy the greatest benefit.
14.
Thirdly, I proposed that the minimum size of
estate liable to estate duty should be raised from
300,000 dollars to 400,000 dollars.
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