NEW SOUTH WALES.

Press, Volume LXII, Issue 12591, 6 September 1906, Page 7

NEW SOUTH WALES.

A SATISFACTORY BUDGET.

FIRST SURPLUS ON RECORD

United Press Association—By Electrio Telegraph—Copyright.

(Received September 6th, 12.17 a.m.) SYDNEY, September 5.

The Treasurer submitted a highly satisfactory Budget to-night. The receipts last year were £12,283,032, and the expenditure £11,395.242. The revenue showed an increase on the estimate of £994,782, and the expenditure an increase of £117,333. After making oeitain statutory payments to meet Treasury bills, a surplus of £846,124 was carried forward, for tho first time in the history of the State. There will be ear-marking of land sales revenue for substantial and permanent works. Over £900,000 will be applied for that purpose this year. Relief to taxpayers will bo afforded in various directions. Tolls on punts and ferries, which handicap producers to the extent of £6000 annually, will bo abolished, and school fees, involving £80,000, will also be abolished. Railway rates reductions will save them £152,000, and penny postage gives an advantage of £50,000 to the people.

The Treasurer said tliat economy, combined with splendid seasons, made the finances exceptionally buoyant. Not only had the Governmental services paid for themselves, but business undertakings had in every instance paid their working expenses. The railway revenue amounted to £5,051,944, and the working expenses and interest on capital was £4,616,305. Tho loan expenditure was exceptionally low, and the position indicated that they wero nearing tho day when they could say good-bye to the British money-lender. The estimated revonue for the current year was £12,030,555, and it was estimated that there would be a surplus of £1,444,600.