MR CHIFLEY EXPECTS £2,000,000 SURPLUS

Press, Volume LXXXV, Issue 25738, 25 February 1949, Page 7

MR CHIFLEY EXPECTS £2,000,000 SURPLUS

CANBERRA, February 24. The Prime Muster (Mr Chifiey) raid in the House of Representative, that he hoped the Government would have a surplus of “a couple of million pounds,” of which he would not be ashamed. "Why should we not try in time of prosperity to build up our funds to meet our debts’" he asked. Mr Chifiey was replying to a criticism of the financial statement. He claimed that the Government had given more in tax reductions than it had taken away in subsidies. Up to now the Opposition had told the Government that one thing which would provide a complete incentive for the workers would be a reduction of taxation. Did Mr Menzies suggest that the reductions in taxation now made would not give all the incentive the workers wanted? It was not likely that if it were returned at the next election the Opposition would restore the subsidies, said Mr Chifiey. The Government might take pride in the fact that it had placed Australia in a financial position unequalled by any other country. It had finished the war with a deficit of £388.000000. but the Budget was balanced last year. The Government had reduced the external debt by over £100.000.003.

Cricket In Ceylon—The West Indies cricketers to-day began a mrtch against Combined School, of Ceylon, and at stumos had run un 481 ms tor the loss of seven wickets. Stofm-'yer made 118. Richards 42. Christio-i 43. Gomez 84. and Headley 100.—Colombo, February 23.