LABOUR'S POLICY.

Dominion, Volume 3, Issue 858, 2 July 1910, Page 5

LABOUR'S POLICY.

FEDERAL PARLIAMENT OPENS. AMBITIOUS PROGRAMME OUTLINED TAXATION INSTEAD OF LOAN. Dj Telejraph—Prosa Association— Copyright (Rec. July 1, 8/15 p.m.)

Melbourne, July 1. The new Federal Parliament was opened to-day by the Governor-General,' Lord Dudley. Alter the swearing-in, of members, and administration of tho oath of allegiance, Senator H. Turley (Queensland) was elected President of 'the Senate, and Mr. C. M'Donald (Queensland) Speaker of the House of Representatives. Tho Governor-General's Speech, after deploring tho death, of King Edward, outlined the business of the session. Legislation was promised dealing with tho following matters: — The financial relations of the Commonwealth and the States. A Commonwealth noto issue. Old ago pensions amendment, by the reduction of the age at which pensions will be paid to women. A progressive land tax on the improved value of land, with an exemption up to £5000. The repeal of the Naval Loan Act of last year, which authorised the raising of £3,500,000 to pay for the new fleet unit. The eft'ectivo control of trusts, combinations, and monopolies, in relation to trade, manufacture, and production. The Speech, continuing, stated that Parliament would bo asked to pass these measures this session. Other measures were promised to provide for tho taking over of the Northern Territory from South Australia ; defence; uniform postage rates throughout ■ the Commonwealth; the regulation of matters connected with navigation and shipping; tho rectification of tariffi anomalies; and the subsidising of an independent news service over the Pacific cable. ; His Excellency stated that his advisers intended to take activo steps to promote immigration to Australia. Reference was also made to the negotiations with Great Britain and New Zealand for a wireless telegraph 'system connecting Australia, New Zealand, and Fiji. , With regard to the ' proposal that there should be a telegraph lino across Canada in conjunction with the Pacific cable, his Excellency declared that tho question of obtaining the permanent use of a telegraph line, as well as of a cable across tlie Atlantic—thus securing a State-owned cable' servico between the United Kingdom and Australia—was under consideration.

BIC DEFICIT ANNOUNCED. MET BY TEMPORARY BORROWING. (Rec. July 2, 0.3 a.m.) Melbourne, July 1. The Federal Customs and excise revenue for tho year amounts to £11,322,328. Tho amount to bo repaid to the States was £8,824,627, and there is still £496,894 due to the States. /

This added to the sum taken from the trust funds makes a total deficit for the. year of £450,544. '

Mr. Fisher, in introducing, a three months' Supply Bill . for £744,331, stated that £300,000 was required as a progress payment for Australia's armoured cruiser, now building.

It was intended, he explained, to cover tlie deficit by borrowing temporarily from trust funds.

Tho Supply Bill was passed. Votes of sympathy; with the Eoyal Family and loyalty to the King were adopted.

. Mr. Poynton was appointed Chairman of Committees in the House. Senator Iveefc was similarly clected in the Senate.

The postal revenue for the Commonwealth amounts to £3,722.512, an increase of £325,423 as compared with last year's figures.

FINANCIAL ARRANGEMENTS. GOVERNMENT PROPOSALS. (Rec. July 2, 1.5 a.m.) Pdelbourne, July 1. As has been expected, the Government's financial proposal in connection with the Braddon Clause is to continue to pay three-fourths of tho Customs revenue to tho States, as hitherto, up to the end of the current year. Thence onwards an annual payment of 25s'. per head of population will bo made.