CO129-525-3 Estimates 1931 and other financial papers 16-1-1930 - 1-9-1932 — Page 9

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The estimated deficit on the two years

1930 and 1931 of $6536,596 is sufficiently

The

Letty Long

serious, but I am inclined to think that their

Estimates show signs of undue optimism.

revised Estimate of Expenditure for 1930 is $28,303,500, which is $6,320,240 in excess of the actual expenditure for 1929 and $1,034,985

in excess of the original Estimate for 1930.

But up to the end of August 1930,

Kong Legislative Council had passed Votes for

Supplementary Expenditure totalling $1,873,275.

Hence, unless there are considerable savings on

some of their original Votes, it seems probable

that the revised estimate of Expenditure will

be inadequate.

optimistic.

The 1934 Revenue Estimate also appears

It exceeds the approved Estimate

for 1930 by $4,775,839. The amount of that

increase which is accounted for by new taxation

is $3,435,812 (increased shipping dues- $465,572;

Ammusements tax $300,000; Increased stamp

duties and estate duties

postage rates - $390,000;

-

$473,000; Increased

Four per cent

increase in assessed taxes $1,415,000;

Motor spirit duties $352,000; Increased

Tobacco auties $400,000; Wireless licences

$11,240; Increased school fees - $19,000).

Assuming that the new taxation actually produces

these sums, that leaves $1,340,027 to be

accounted for by ordinary increases in Revenue,

as compared with the approved Estimate for

large

1930. The only items on which increases are

expected, are Land Sales

$500,000, Water

Sales