CO129-534-6 Loans for public works 24-2-1931 - 11-8-1932 — Page 78

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additional military contribution on $2,500,000 i.e. $500,000 or $31,168,000. To this has to be added

interest on £200,000 Treasury Bills £7,000 or $140,000 also $1,000,000 due to the Admiralty on account of the Naval armament depot making in all $32,308,000 or $2,308,000

over the revenue.

Further revenue can however be raised by increasing the assessment from 17% as at present to 20%, estimated to produce an extra $1,200,000 andby raising the duty on motor spirit from 15 cents to 25 cents per gallon estimated to produce a further $100,000. Increasing various licences, fees and other dueswill produce another $100,000.

Normal increases in revenue and a reduction in expenditure will, even with the gradual addition of $1,099,250 up to 1937 over the 1931 figure be sufficient to meet the Colony's annual debt charges, in succeeding years.

نسمع

Jaylen

leputy

Treasurer

24. 2. 31.