Estimates-1964 — Page 199

198

Revised

Estimate

estimate

Difference

1963-64

1962-63

$M

$M

$M

Total Recurrent Revenue

993.9

1,025.2

+ 31.3

Internal Revenue (Estate and Excess

Stamp Duties) ..

24.0

20.0

4.0

Fees of Court or Office (Repayments of

Loans and Contributions)

4.7

2.1

2.6

Land Sales

185.0

146.4

38.6

Colonial Development and Welfare Grants

World Refugee Year Grants

0.1

3.4

+ 3.3

Total Revenue

1,207.7

1,197.1

10.6

HEAD 1— DUTIES

Estimate 1963-64

Revised estimate 1962-63

Approved estimate 1962-63

Actual revenue 1961-62

$203,400,000

196,300,000

185,800,000

175,799,304

The revised estimate for 1962-63 shows an increase of $10,500,000 over the approved estimate for 1962-63 and $20,500,000 over the actual revenue collected in 1961-62. For 1963-64 all subheads share in the increase and "Import duty on hydrocarbon oils" alone is expected to contribute thereto in the sum of $5,000,000.

HEAD 2 — RATES

Estimate 1963-64

Revised estimate 1962-63 Approved estimate 1962-63

Actual revenue 1961-62

$141,050,000

129,400,000

128,550,000

116,298,736

The estimate for 1963-64 shows a marked increase of $12,500,000 compared with the approved estimate for 1962-63. This is due to the continued building development in the Colony.

HEAD 3— INTERNAL REVENUE

Estimate 1963-64

Revised estimate 1962-63

Approved estimate 1962-63

Actual revenue 1961-62 ..

$346,400,000

343,041,000

326,300,000

319,656,541

The estimate for 1963-64 shows an increase of $20,100,000 over that approved for 1962-63 and $3,359,000 over the 1962-63 revised figure; "Earnings and profits Tax❞ accounts for most of the increase.

HEAD 4 - LICENCES AND FRANCHISES

Estimate 1963-64

Revised estimate 1962-63

Approved estimate 1962-63

Actual revenue 1961-62 ....

$60,771,000

56,632,000

55,375,000

51,260,346

Both the revised estimate for 1962-63 and the estimate for 1963-64 show increases compared with the approved estimate for 1962-63. The totals for Licences and Franchises are summarized below:-

Licences

Franchises

Total

Subhead

Approved Estimate

1962-63

Revised Estimate 1962-63

Estimate 1963-64

$26,362,000

$26,845,000

$27,610,000

$29,013,000

$29,787,000

$33,161,000

$55,375,000

$56,632,000

$60,771,000