CO129-550-1 Estimates 1935 14-9-1934 - 15-9-1934 — Page 321

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5.

In view of the general depression from which

the Colony is suffering the Government has made no

In two matters, however,

attempt to meet the fall in revenue by increased taxa- tion, but it has been out of the question to remit

any of the existing taxation. the Government has already granted concessions and is prepared to continue to do so as long as present condi-

tions obtain. First a rebate of fifteen per cent

subject to prompt payment of the account has been granted on all new accounts issued by the Government after 1st September, 1934, for excess consumption charges under the Waterworks Ordinance 1903 in res- pect of rated tenements, hospitals and charitable

institutions.

Secondly the Government has adopted a generous attitude with regard to failure to comply with the terms of building covenants within the specified time and in all cases of genuine hardship free exten- sions, or in the case of subsequent extensions, exten- sions at reduced rates, have been granted at consider-

able sacrifice to the revenue.

The Government envisages therefore an anticipated surplus balance of $12,601,259 at the end of 1934 and an anticipated revenue of $30,585,650 for 1935. There is no disguising the fact that the

Colony is at the moment suffering from the effects of a very serious depression in trade. Members are only too well aware that our intre ot

Honourable