141
Enclo. No.5.
8
experience. Even without deducting "special
expenditure" items, the recurrent revenue has
for the past few years in every case exceeded
recurrent expenditure, as is shown in the table
which forms enclosure No.5. to this despatch.
I, therefore, view the future with less apprehension than the printed estimates might appear to
warrant.
11. On the figures for 1929, it would have
been possible to meet the full cost of the salaries scheme estimated at $1,038,934 for that year and still have shown a surplus at the end of the year. The position for 1930 is not quite so favourable owing to the drop in exchange and 1 consider that it would be advisable to make provision for an increased/revent recurrent
about $1,000,000.
I have
already under consideration a tax on petrol, which should bring in some $200,000 and the possibilities of an amusement tax and of a tax on betting are being
investigated; but I camot anticipate any large
revenue from these sources.
The only taxes which
bring in large sums are the Assessment Tax, the Stamp Tax and the taxes on liquor and tobacco. Of these the taxes on liquor and tobacco have recently been reviewed and are probably as high as it is wise to make them at present, though they may be capable of future enhancement.
The Stamp Duties
I should prefer not to disturb. There remains the Assessment Tax. The present general rate is 13%
and