§ Mr. Lee
asked the Secretary of State for Foreign and Commonwealth Affairs what is the total revenue that has so far accrued to the Gilbert Island's Government, as distinct from that portion accruing to the Banabans under the provisions of the 1973 Agreement for further phosphate mining on Ocean Islands; and how much of this revenue has so far been spent or earmarked for expediture in approved estimates of the Gilbert Islands Government.
§ Mr. Rowlands
The total revenue from phosphate mining on Ocean Island that has accrued to the Gilbert Islands' Government from 1st July 1920 to 30th June 1975 is approximately $A50 million, of which a little under $A3 million represents revenue from the lands covered by the 1973 Agreement. Final figures for the year ending 30th June 1976 are not yet available. In accordance with the Gilbert Islands Public Finance Ordinance all revenue is paid into the Consolidated726W Fund. Particular sources of revenue are not designated for particular items of expenditure.