| Both Houses of Parliament – the House of Representatives and the Senate have completed debate on the 1973 Budget and have given their approval.
The planned expenditure for 1973 is $586,300,00 built up as follows:
Current expenditure …………………. $427,400,000
Loans to Statutory Authorities …….. 20,900,000
Capital Re-payments …………………. 25,500,000
Development Expenditure …………. 112,500,000
The financing for this expenditure will come from the following sources:-
Recurrent Revenue …………………..… $463,300,00
Capital Receipts other than loans…… 30,500,000
Local Loans ………………………………… 49,000,000
Institutional Loans (Foreign) ………… 13,000,000
Foreign Market Loans …………….. 30,500,000
Naturally, most public attention has been centered on the taxation measures detailed in the speech by the Minister of Finance, Mr. George Chambers, on 5th January, 1973 |