- 3-
is evident from the fact that the revenue, which in
1929 amounted to $23 millions, is expected to reach
the figure of $31 millions in the current year. It
is true that some of this increase is due to increased
land sales and also to the fact that some of the
additional revenue is the result of placing liquor and
tobacco duties on a sterling basis. Should the value
of the dollar rise the receipts in local currency from
the latter duties would decrease but this would be set
off by a decrease in the dollar equivalent of our
sterling commitments.
7. In 1932 I anticipate that the revenue figure
for 1931 will be exceeded, as some of the increases
have only been in effect for a part of the current
year. I adhere to the view that this Colony is by no
means heavily taxed, but I consider it inadvisable to
increase taxation too rapidly, thereby accelerating the
rate of increase in the cost of living. The
Colonial Treasurer has submitted proposals for
increasing various fees and licences, which are
estimated to produce some $600,000 additional revenue.
If further revenue is needed, apart from that required
to meet additional loan charges, it would be possible
further to raise the liquor and tobacco duties, and
possibily impose a betting tax. It is proposed to
increase the revenue from water, to which I will refer
later. No doubt it will be possible to raise the
rates still further, but as they have recently been
raised by 4%, I think it would be better not to make
any further increase at present, but to wait until it
is required to meet additional loan charges for which,
on
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