ENG-1948 — Page 42

DEIO

177 FRAG

PUBLIC FINANCE AND TAXATION

Revenue and Expenditure.

Chapter 3.

British Civil Administration was resumed in the Colony as from the 1st May, 1946, and the first post-war budget covered the period of eleven months only, from the 1st May, 1946, to the 31st March, 1947.

The Revenue and Expenditure figures since the 1st May, 1946, are as follows:

1946/47 (11 months)

1947/48 (Actual)

1948/49 (Estimates)

Revenue Expenditure Surplus

Deficit

$ 82,141,556 85,624,391

$

$

$

3,482,835

164,298,310 127,701,174 36,597,136 151,407,950 150,284,105 1,123,845

The cumulative surplus at the 31st March, 1948, amounted to $37,063,396.

Estimates for 1948/49.

The original Estimates for the year 1948/49 provide for Revenue totalling $151,407,950 and Expenditure of $150,284,105, giving an estimated surplus of $1,123,845, but present indications are that the surplus will be considerably higher than this.

Revenue.

The principal revenue items for 1947/48 and 1946/47 in round figures were:-

1947/48 1946/47 (11 months)

30

(a) Duties on Liquor, Hydrocarbon Oils,

Tobacco, Proprietary Medicines, etc. $50,800,000 $34,000,000

(b) Rates (Assessed Taxes)

8

Internal Revenue, including Enter- tainment Tax, Estate Duty, Stamp Duties, Meals & Liquor Tax, Bet- ing & Sweeps Tax (and Earnings & Profits Tax, and Dance Hall Tax

9,900,000

6,800,000