SOUTH AFRICAN BUDGET.
DEFICIT OF £3,735,000. RELIANCE ON EXTRA TAXATION. (VKITID PBBSS A3SOCUTIOX—BT BLBCTMO TBUSGBAPH COPYBIQHT.) CAPE TOWN, March 23. Exceptional interest was taken in the Budget, the Assembly being packed. The Minister for Finance (Mr N. C. Havenza) denied Tumours that devaluation was probable, and said the Government refused to launch the country on a rake's progress. It is estimated that £9,000,00Q has to be sent overseas over and above ordinary requirements, the latter including a deficit of £900,000 from the previous year and a shortage of £2,000,000 on estimated revenue. The deficit to be met is £3,735,000. Extra taxation provides £3,535,000, including imposts on the gold industry, a surtax of 5 to 10 per cent, on fixed interest, and import duties on farm machinery, spirits, and tea.
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Press, Volume LXVIII, Issue 20505, 26 March 1932, Page 15
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129SOUTH AFRICAN BUDGET. Press, Volume LXVIII, Issue 20505, 26 March 1932, Page 15
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