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the sliding scale and to convert sterling salaries
at current exchange rate with the maximum tempo rary
allowance.
The Treasurer's estimate of the final reve me
and expenditure for 1929 shows a surplus of nearly
g1,500,000 as contrasted with a deficit of more than
8/2,500,000 originally estimated.
On the let of
January, 1930, therefore the Colony's assets amount
to 89, 577038 as compared with the estimated figure
7,712,265 and of these assets over $8,000,000
may be regarded as liquid.
of
Assuming that the
liquid surplus balame may be used for Public
Works Extraordinary and for certain heavy items
of non-recurrent expenditure the Governor's
revised analysis of the 1930 Estimates gives him
an estimated deficit of $674,412 between estimated
current revenue and gross estimated recurrent
expenditure, but he fully expects the recurrent
revenue to exceed the approved recurrent expenditure.
On the whole, he advises that provision must
be made for an increased recurrent revenue of about
$1,000,000 in order to meet the full cost of the
new salary scheme and he fixes on the present
assessment rate of 13% as the means of raising
the great bulk of this sum.
An increase of
4% would bring in about $1,300,000; a petrol tax
would bring in a further $200,000. From the
$15,000,000 thus raised,
mili tary contribution
obligations would require 20% or $300,000 to be
deducted