XN000022-1975-10-31 — Page 9

8.

FRIDAY, OCTOBER 31, 1975.

PRICE OF SAND REVISED *****

THE PRICE OF BUILDING SAND PURCHASED FROM GOVERNMENT SAND DEPOTS HAS BEEN INCREASED FROM $30 TO $33.50 A CUBIC YARD AS A RESULT OF HIGHER OVERHEAD CHARGES.

THE NEW PRICE, ANNOUNCED IN TODAY'S GAZETTE, WILL BE CHARGED FOR ALL SAND FOR WHICH PAYMENT IS MADE ON OR AFTER TODAY.

A PUBLIC WORKS DEPARTMENT SPOKESMAN REAFFIRMED THAT THE GOVERNMENT'S POLICY IS NOT TO RECOVER MORE THAN THE COST OF BUYING AND SELLING SAND.+

HE EXPLAINED THAT THE PRESENT INCREASE ARISES FROM

A GENERAL INCREASE IN THE OVERHEAD CHARGES, PARTICULARLY THOSE RELATED TO FUEL OIL COSTS.

HOWEVER, THE SPOKESMAN POINTED OUT THAT THE EFFECT OF THE INCREASE ON BUILDING COSTS WILL BE MINIMAL AND IS ESTIMATED TO REPRESENT AN INCREASE OF ONLY 0.4 PER CENT DEPENDING ON THE COMPLEXITY OF THE BUILDING,

THE NEW PRICE WILI. ALSO APPLY TO ROYALTY PAYMENTS FOR SAND COLLECTED FROM AUTHORISED SITES WITH THE EXCEPTION OF THE SALE AND REMOVAL OF SAND IN SMALL QUANTITIES FOR LOCAL VILLAGE PURPOSES OR COMMUNITY WORKS.

GOVERNMENT ACCOUNTS FOR AUGUST

******

THE GOVERNMENT ACCOUNTS FOR THE MONTH OF AUGUST 1975 SHOW A DEFICIT OF $90 MILLION COMPARED WITH A DEFICIT OF $202 MILLION IN AUGUST LAST YEAR.

THIS HAS RESULTED IN AN ACCUMULATED DEFICIT OF $421 MILLION FOR THE FIRST FIVE MONTHS OF THIS FINANCIAL YEAR, COMPARED WITH A DEFICIT OF $590 MILL ON FOR THE SAME PERIOD LAST YEAR.

THE

TOTAL REVENUE FOR AUGUST WAS $351 MILLION WHICH INCLUDED A LOAN OF $15 MILLION FROM LLOYDS BANK INTERNATIONAL. REVENUE WAS $49 MILLION MORE THAN IN AUGUST 1974 DUE MAINLY TO INCREASED RECEIPTS FROM RATES AND INTERNAL REVENUE.

EXPENDITURE AT $441 MILLION WAS $63 MILLION LESS THAN THE SAME MONTH LAST YEAR. MAINLY BECAUSE OF DECREASED SPENDING ON PUBLIC WORKS PROJECTS AS A RESULT OF DIFFICULT WEATHER CONDITIONS.

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