ENG-1949 — Page 41

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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)

Revenue Expenditure Surplus

$

$ 82,141,556 85,624,391

Deficit

$

3,482,835

1947/48

164,298,310

1948/49

1949/50 (Estimates)

127,701,174 36,597,136 194,933,955 159,954,023 34,979,932 180,151,370 179,924,312 227,058

The cumulative surplus at the 31st March, 1949 amounted to $72,143,683.

Present indications are that the surplus for 1949/50 will be considerably higher than the figure of $227,058 originally estimated.

Revenue

The principal revenue items for 1947/48 and 1948/49 in round figures were:

1947/48.

1948/49.

(a) Duties on Liquor, Hydrocarbon Oils, Tobacco,

Proprietary Medicines, etc.

(b) Rates (Assessed Taxes)

$50,800,000 9,900,000

$41,111,000

14,984,000

(c) Internal Revenue, including Entertainment Tax, Estate Duty, Stamp Duties, Meals & Liquor Tax, Betting & Sweeps Tax, Earnings & Profits Tax and Dance Hall Tax

(d) Water Revenue (e) Postal Revenue

38,600,000

70,513,000

5,600,000 6,312,000

7,065,000 9,325,000

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