CO129-584-2 Estimates 1941-2 21-2-1941 - 11-6-1941 — Page 332

397

Expenditure.

10. Expenditure for 1941-42 is estimated as follows:-

Recurrent Expenditure

Special Expenditure

Public Works Extraordinary

War Expenditure

$41,905,084

3,204,824

4,979,594

12,300,274

$62,389,776

For purposes of conversion the dollar has been taken at ls. 3d. for the payment of sterling salaries and at 1s. 2ąd. for other sterling payments. After deducting the total estimated revenue of $54,836,000, there will be a deficit of $7,553,776.

The position at 31st March, 1942, is estimated to be as follows:-

Surplus of Assets over Liabilities at 1st January, 1940

Revised estimate of Revenue, 1940-41

$

17,091,170

67,000,000

Revised estimate of Expenditure, 1940-41

84,091,170

66,877,500

Estimated excess at 31st March, 1941

17,213,670

Estimated Revenue, 1941-42

54,836,000

72,049,670

Estimated Expenditure, 1941-42

62,389,776

Anticipated Surplus of Assets over Liabilities at 31st March, 1942.

9,659,894

11. If times were normal most Heads of Expenditure, except where provi- sion for new services is made, should show a 20% reduction as compared with the 1940-41 Estimates in view of the reversion to the normal financial year of twelve months. This, however, is far from being the case in some instances because of the increasing cost of materials, as mentioned in the explanatory footnotes to many sub- heads. Any attempt at comparison between the provision made under the various Heads in 1940-41 and in 1941-42 would be futile without bearing this fact in mind.

Two new Heads of Expenditure appear in the printed Estimates for the first time. They are Head 32, War Expenditure, and Head 33, Immigration Department. The Immigration Department has been set up recently to implement the provisions of the Immigration Control Ordinance, No. 32 of 1940, which it is expected will be brought into effect by Proclamation early in 1941. The estimates of Expen- diture under Head 33 must be regarded as provisional only, but it is anticipated that the revenue derived from the fees imposed by the Immigration Control Ordin- Details of the ance will cover the expenditure involved in its administration. estimated expenditure under Head 32, War Expenditure, are given in Table VI.