(0)
Dr
20 of revenue
whichever is the less.
and
the new proposal, viz:
the cost of the garrison
12 of rateable value,
whichever is less.
The comparison of yield of the two systems over
a period of years, shewn in the Appendix, has already been referred to in paras 8 and 9. Up to 1913 there is not much in the differences one way or the other, but that from 1914 onwards Army Estimates would have lost heavily. The losses for the last few years in particular would have been (in sterling) :-
81
1923
1924
1925
1926 1927
£
173,500
192,000
164,400
8,250 34,550
It is true that these figures were adversely affected by the restriction of rents operating from 1923 to 1928; on the other hand any question of restricting rents in the future would be difficult to handle if the Home Government were the main party concerned.
26.
The figures in column 2 of the appendix include the elements of revenue which the Colony are now disputing in their reserved claim (paralo). The effect on the contribution if the claims in paragraph 11 (iii) were allowed*, on the Colony's figures converted at an average rate of exchange for each year is as follows :-
of Valuation.
Year
Actual Contribu- tion due.
12袋
1.
£
3• £
1926 1927
388,600 388,050
380,350 353,500
Contribution if reserved claim had been allowed.
4
£
•·
319,050 267,250
It is noteworthy that the Colony presses for a revision of methods which would maintain the contribution much about its present level; while alternative claims, which are held in reserve lest the Treasury and War Office should reject the new proposal, would, if conceded, reduce the contribution by a third. In pressing for the new proposal by which the contribution would be assessed at 121 of the rateable value, the Colony expressly state that they have no desire to reduce the present contribution; the proposal might have the effect of preventing a rise in the contribution which would automatically follow a rise in the revenue. A rise in the revenue need not necessarily be reflected in a rise in the rateable value.
* The Colony has not stated the financial effect of (i) and (ii)
of paragraph 11, nor whether it intends to pursue them. The effect is not likely to be large. See paragraphs 12 14.
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