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WEDNESDAY, MARCH 6, 1991
"I ALSO PROPOSED CONCESSIONS IN RELATION TO STAMP DUTY ON STOCK EXCHANGE TRANSACTIONS AND ON CERTAIN COMPANY REORGANISATIONS.
IN CONCESSIONS "IN TOTAL THE VALUE OF AMOUNT TO NEARLY ONE BILLION DOLLARS A YEAR.
MY 1991 BUDGET WILL
THE
LAST
"RATEABLE VALUES ON PROPERTY WILL INCREASE AS A RESULT OF RECENT REVALUATION. AS I PROMISED WHEN I SPOKE TO YOU THIS TIME YEAR, I HAVE LOOKED AGAIN AT THE PERCENTAGE RATE TO BE APPLIED BECAUSE IS ACTUALLY PAID. I AM IT IS THAT RATE WHICH DETERMINES HOW MUCH PROPOS ING THAT THE TOTAL CHARGE TO RATES, TERRITORY WIDE, REDUCED BY TWO PERCENTAGE POINTS.
SHOULD BE
SOFTENED "THE IMPACT OF HIGHER RATEABLE VALUES WILL BE FURTHER
RATES PAYABLE WILL BE THE INCREASE IN BY RATE RELIEF MEASURES. LIMITED TO A MAXIMUM OF 25 PER CENT IN 1991-92, BUT FOR OVER HALF OF THE EFFECT OF OUR RATEPAYERS THE INCREASE WILL BE LESS THAN THIS.
FOR THESE VARIOUS MEASURES WILL BE THAT THE AVERAGE INCREASE IN RATES A SMALL PRIVATE FLAT WILL BE UNDER $40 A MONTH.
"MY REVENUE MEASURES TAKEN AS A WHOLE WILL INEVITABLY HAVE SOME OR NON- EFFECT ON THE COST OF LIVING, BUT MAINLY RELATING TO LUXURY
BUY OR ESSENTIAL ITEMS, WHERE THE INDIVIDUAL CAN CHOOSE WHETHER TO NOT. I AM VERY CONSCIOUS OF WORRIES OVER INFLATION AND HOPE TO SEE IT FORMED MY BUDGET OF THE YEAR. REDUCED OVER THE COURSE PROPOSALS WITH THIS IN MIND.
I HAVE
"OVERALL,
MY REVENUE AND EXPENDITURE PROPOSALS FOR 1991-92 WILL WILL RESULT IN A MODEST SURPLUS, SO THAT THE STRENGTH OF OUR RESERVES BE MAINTAINED.
"THIS HAS BEEN MY LAST BUDGET AND, IN MANY WAYS, IT IS THE MOST VITAL IMPORTANT. GIVEN ALL THE UNCERTAINTIES PREVAILING TODAY, IT IS
SAFEGUARDED. MY PROPOSALS THAT OUR FINANCIAL POSITION SHOULD BE
I IS,
BOTH BELIEVE, I HAVE PRESENTED ACHIEVE THIS. THE BUDGET POSITIVE AND REALISTIC AND WILL KEEP US ON THE RIGHT PATH IN THE AHEAD AND INDEED BEYOND.
YEAR
"GOOD NIGHT."
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