LIGHTEST-TAXED STATE.

Clutha Leader, Volume XL, Issue 72, 17 March 1914, Page 2

LIGHTEST-TAXED STATE.

NEW SOUTH WALES FINANCE.

SYDNEY, March 13,

The Budget of the last financial year shows that it closed with a debit balance of £11,167,000. Hon. W. A. Holman (Premier and Treasurer), speaking in the Legislative Assembly, admitted that a serious blunder had been made in droppine the Income Tax and Stamp Duties BilL New South Wales was the "most lightly-taxed State in the Common-, wealth, the rate being 17s 3d per head. It was proposed to raise £35,000 by imposing charges on outgoing vessels on the same basis as charges on inward vessels. The companies would be taxed upon their own profits on a fiat rate of 1& in the pound. Mr Holman, continuing, said that the income-tax amendments would bring in '£-195,570 and orobate and stamp duties £113,000, a utal of £O-13,570. This would give a surplus of £38,853 on the year's transactions. Owing to last year's deficit there still remained a debit balance of £1,1:28,164 on June 30 next. As an alternative means of revenue the Government contemplates the sale of petrol or the taxation of motor-cars and lorries. Despite the deficit the abounding prosperity experienced indicated an expansion of business. The ( most important work now in progress was the duplication of the Main Trunk line. Hon. C. G. .Wade (Leader of the Opposition) criticising the Budget said that the Premier's whole speech was devoted to a miserable confession. Year after year he was compelled to acknowledge a deficiency. The Government after its financial debauchery had not the moral courage to put its hands to the .plough of reform and adjustment for fear of losing a few votes. The debate was adjourned, until next Thursday.