XN000022-1973-02-29 — Page 2

Wednesday, February 28, 1973

SURPLUS OF OVER $300 MILLION FORECAST FOR 1973/74

Biggest Share Of Revenue From Direct Taxes

A surplus of more than $300 million is forecast in the draft Estimates

of Revenue and Expenditure for the 1973-74 financial year.

The total revenue for the coming financiál year is estimated

at $4,722 million, an increase of $1,018 million over the original estimate

for the current year.

The estimated revenue as compared with the estimated expenditure of

$4,409 million, indicates a surplus of $313 million for 1973-74.

The largest share of the Government's revenue in 1973-74 will

come from direct taxation on earnings and profits which is expected to raise

$1,265 million or about 27 per cent of the total.

This represents an increase of $253 million on the original estimate

of $1,012 million for 1972-73.

Other major items in the Revenue Estimates are listed below with the

original estimates for 1972-73 given in brackets.

*

Duties on hydrocarbon oils, liquor, tobacco

and table waters

Stamp Duties

Rates

Land Sales

Water Revenue

Post Office Revenue

Airport

... 3490 million (3457 million)

... $460 million ($190 million)

... $336 million ($384 million)

... $323 million ($223 million)

... $187 million ($167 million)

$174 million ($168 million)

$160 million ($116 million)

/Interest