Brighter Outlook

In The Bsip

The BSIP financial situation is at last developing a tinge of pink to replace the grey. There was the suspicion of a modest blush in December when the Financial Secretary, Mr. L. M. Davies, an nounced to the Legislative Council that the Solomons re quired only another £A 12,000 from the UK grant to make the budget balance for 1964. This would be the smallest increase in the last decade.

Estimated expenditure is £2,002,000, revenue £1,130,000, and UK assistance under the Overseas Aid Scheme is £235,000, leaving a shortfall of £637,000 to be met from the grant-in-aid.

Salaries will take £795,000 of the expenditure.

In 1963 imports were £2,085,000 and exports £1,700,000. The deficit in the trade balance was an improve ment of some £215,000 com pared with 1962. Exports were

Up £Bo,Ooo.

The High Commissioner, Sir David Trench, described progress as most encouraging and said it looked as if the Solomons was at last entering a period of greater development.

See Commerce, p. 121.