COMMONWEALTH AFFAIRS.

Auckland Star, Volume LVII, Issue 161, 9 July 1926, Page 7

COMMONWEALTH AFFAIRS.

THE FEDERAL BUDGET.

LARGE NATIONAL DEBT

NEW TAX ON MOTORS.

(By Cable.—Press Association.—-Copyrislrt.)

MELBOURNE, July 3. The Federal Budget was presented in the House of Representatives to-day by the Treasurer, Dr. Earle Page. The Minister said s the revenue for the *!§'*•.,.' amounted to £■)?.- 90(5.261, and the ex f siß penditure to £61,- / ■ been carried for- j ward from the pre- ■ MaT .Jmßsß vious year, there was a surplus for 1925 to 1926 of Dr. Earle Page. £286,944. ■ In addition the Government had in hand £2,500,000 in the Trust Fund. This included £1,000,000 for naval construction, which was not provided for in the 1925 to 1926 Budget, so that they had ended the year with £2,756,000 in hand. The chief increases in revenue during the year were:—Customs and excise, £1,995,553, and direct taxation. £1,064,----124. The total increase was £3,422,001. The estimated revenue for 1926 to 1927 was £51,382,000, and the estimated surplus £149,381. The gross national debt at the end of June last was £458.443.637. This comprised war debt, £304,546.643: debts incurred for the States, £53.408,559; and other debts, £70,488,135. After making deductions for loans to the States and for other purposes the net debt was £338.841,476. compared with a net debt of £339.002,105 at June 30, 1922. As the population during this period had increased by 481.855, the net" debt of the Commonwealth now wag £4 14/10 per head less than it was in 1922. The gross debt of Australia per head of population was £166. The total Commonwealth and State debts amounted t» £590,892 ; 535.—(A. and N.Z.) MAINTENANCE OF HOADS. " — i| (Received 1 p.m.) *]-; .MELBOURNE, this day. \ Dr. Earle Page in his Budget speech disclosed that the number of old-aga and invalid pensioners totalled. 176,000. The amount paid in pensions during the past year was £8,252,000. He said the Government was of opinion that the present method of relief did noc fulfil all requirements. He foreshadowed the introduction of a JCationa.l schema for old age, sickness, and unemployment relief. Referring to preference, he stated that during the past year British, preference granted to Australian products totalled £1,780,000. Explaining the Governments policy for the maintenance of main roads Mr. H. E. Pratten, Minister of Trade and Customs, announced that the increased tariff duties which will operate from to-day on petrol, motor tyres, tubes, chassis, and chassis parts are etimated to yield £1,560,000. The duty on petrol is increased by twopence a gallon. There is an increase of sixpence a lb on rubber tyres, and an increase of fifteen per cent on other tyre items.— (A. and N.Z.)

THE REFERENDUM.

MELBOURNE, July S. The Vice-President of the Executive Council, Mr. G. F. Pearce, announces that a referendum poll will be held on September 4. The writ is to be issued on July 20 and will be returnable on October 12.—(A. and X.Z.)

EARTHQUAKE SHOCK

SYDNEY, July 8. A heavy earthquake shock has been felt at Goulburn, 134 miles south-west of Sydney. , Houses in the town were badly shaken. — (A. and X.Z.)