SOUTH AFRICA’S BUDGET
— * — SURPLUS TO BE APPLIED TO REARMAMENT CAPE TOWN, March 15. The sixteenth consecutive Budget of the South African Minister for Finance (Mr N, C. Havenga) estimates revenue at £43,780,000 and expenditure at £42,130,000. He ,is applying .the majority of the surplus to rearmament. The chief proposals include £300,000 for defence to supplement loan expenditure of £ 800,000, a railway subsidy to make possible reduced freights on farm produce and fertilisers, and a rebate of £600,000 on income tax, the yield from which, it is estimated, will increase by from 20 to 30 per cent. Next year’s estimates are for revenue £44,660,000 and expenditure £ 44,860,000. . •
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Press, Volume LXXV, Issue 22662, 17 March 1939, Page 7
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106SOUTH AFRICA’S BUDGET Press, Volume LXXV, Issue 22662, 17 March 1939, Page 7
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