Enclosure No. 3.
115
By Your Excellency's command I rise to move the First Reading of a Bill intituled "An Ordinance to apply a sum not exceeding twenty-two million and thirty-eight thousand eight hundred and seventy-nine dollars to the
Public service of the year 1930".
O
It has been my practice, Sir, on the three occasions on which I have been privileged to be connected with the introduction of the Annual Budget to preface my own or in one case the Acting Colonial Secretary's remarks with a review of the Colony's financial position and with a forecast of the probable position in the near future. This year I am relieved of this duty by an innovation which will I trust meet with the approval of Hon. Members. On Your Excellency's instructions the Hon. Treasurer has prepared a memorandum on the financial position of the Colony which includes a review of the revenue for 1928, a revised estimate of revenue for the
and present year, an estimate of revenue for next year, a forecast of the position as he foresees it at the beginning of the next financial year. It is sufficient therefore for me to say that the Government expects the present year's revenue to be slightly less than the expenditure with an estimated deficit of $379,368 and that it anticipates a total surplus balance at the end of 1929 of $7,712,265. of which $6,224,977. is expected
to be liquid and available for expenditure.
The revenud
for