FDEERAL BUDGET.

Dominion, Volume 5, Issue 1270, 27 October 1911, Page 5

FDEERAL BUDGET.

j SUBSTANTIAL SURPLUS. YIELD OF THE LAND TAX. By TeleEraDh—Press AEsociation—Oopyricht (Rec. October 27, 1.15 a.m.) Melbourne, October 2G. Mr. Fisher, Federal Primo Minister and Treasurer, delivered his Budget statement to-day. The. revenuo to the year ended Junu 30 was J:IS,SOi),ST3, which was £1,9122,231 above the estimate. Last year tlie revenue, was JC15,538,W0. Tlie chief items this year w>ro Customs | and cxci.se, ,£12,980,i43, or £i 18s. 9£d. per | head. The total was «£1,2a),113 in excess I of the estimate, and .£1,357,27S above last year. The land tax yielded .£1,370,357. Tire estimate was JCI,UOO,OOO. Ho toped to bo able to estimate, better next year as lio would have something to go upon. The expenditure—not including sums advanced from trust funds for revenue purposes and the payment of surplus revenue to the States—was £iI,32GJM. The year practically closed with a surplus of Jtlfii'i.o'li, which was transferred to the,funds for the fleet and old ago pensions in equal proportions. Tho Budget payments to tlio States absorbed £b,1%,12i. It had been decided to spend ,£1t712,G79 on non-recurring works, which wes'o usually paid out of ioan money. Mr. Fisher estimated tho revenue for tho current year at ,£19,515,000. Tho chief items were Customs and Excise, .£13,000,000; receipts, ,£3,870,000; coinage, .£210,000. The estimated expenditure was the same as revenue.