PRESENT REGULATIONS.
At Exchange 1/10d.
13
SALARIES COMMISSION. Difference.
(Including amended Estimate of
H.C.L. Allowance).
(Revised Estimate at exchange 1/10d.)
(Privilege Rate £1 = $12. H C.L. Allowance of 8% or 16%).
Sterling Salaries
$4,613,889 1
$ 5,562,262
$ 384,373
H.C.L. Allowance. 564,000
Dollar Salaries
3,897,207
4,551,768
654,561
TOTAL
$9,075,096
$10,114,030
$1,038,934
At Exchange 1/9d.
(Privilege Rate £1-$12. H C.L. Allowance of 9% or 18%).
Sterling Salaries .. $4,613,889 | H.C.L. Allowance 634,500
Rate £1 $11.4286 H.C.L. Allowance of 15% (Revised Estimate)
$ 5,932,103
4,551,768
$ 683,714
Dollar Salaries
...
3,897,207
654,561
TOTAL
$9,145,596
$10,483,871
$1,338,275
At Exchange 1/6d.
(Suggested arrangement for pay-
ment of salaries now under
consideration *).
(Current Rate £1
$13.2872*
18%†).
H.C.L. Allowance of 9% or
Sterling Salaries.. $5,126,542**
(Rate £1
$13.2872.
H.C.L. Allowance of 15%)
$ 6,920,786
$1,089,244
H.C.L. Allowance.
705,000*
Dollar Salaries
3,897,207
4,551,768
654,561
TOTAL
$9,728,749
$11,472,554
$1,743,805
+ Vide paragraph 6 of my despatch.
* NOTE--This proposal was not adopted. Instead, the sliding scale stopping at £1-$12 was retained and the H.C.L. Allowance was extended to 12% or 24% when exchange is below $1—1/77. The increase for the year above the amount provided, which this extension would involve is estimated at $377,400. The figures for this item should therefore be :—
Sterling Salaries
H.C.L. Allowance
Dollar Salaries
$4,613,889
797,400
TOTAL
3,897,207
$9,308,496
and the difference :-
Sterling Salaries
$1,509,497
Dollar Salaries
654,561
TOTAL
$2,164,058
59
No comments yet.
Private notes are available after approval.