8
WEDNESDAY, FEBRUARY 27, 1985
FOLLOWING ARE DETAILS OF THE ADDITIONAL REVENUE YIELDS:
BUDGET PROPOSALS
ADDITIONAL REVENUE
($MN)
BETTING DUTY
120
AIR PASSENGER DEPARTURE TAX
90
BUSINESS REGISTRATION TAX
55
UTILITY AND GENERAL FEES AND CHARGES
415
DUTIABLE COMMODITIES
– HYDROCARBON OILS
INTOXICATING LIQUOR
-
TOBACCO
COSMETICS
NON-ALCOHOLIC DRINKS
LESS COST OF TAX CONCESSIONS
110
140
110
100
210
1 350
150
NET YIELD
1 200
RATIONALE EXPLAINED
***
THE INTENTION IS TO FINANCE THE OSTENSIBLE DEFICIT OF $2.2 BILLION BY DRAWING $1 BILLION FROM FREE FISCAL RESERVES AND BY FINDING THE BALANCE FROM INCREASED REVENUE, SIR JOHN BREMRIDGE SAID.
SIR JOHN WENT ON: +1 NEED NOW TO EXPLAIN THE RATIONALE UNDERLYING THE VARIOUS MEASURES WHICH I SHALL PROPOSE IN ORDER TO RAISE THE NECESSARY NET $1.2 BILLION. NO TAXPAYER LIKES ADDITIONAL TAX BURDENS, UNLESS THEY ARE PLACED ON OTHERS WHILE HE DERIVES THE BENEFIT. I BELIEVE, HOWEVER, THAT THERE IS GENERAL SUPPORT FOR A STEADY RETURN TO BALANCED BUDGETS. WE ARE THEREFORE DISCUSSING MEANS NOT ENDS.+
/FIRSTLY, SIR
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