AUSTRALIAN BUDGET.

Dominion, Volume 5, Issue 1271, 28 October 1911, Page 5

AUSTRALIAN BUDGET.

NO NAVAL SUBSIDY WANTED.

IMPORTANT SCHEMES. By Tolorraph—Pimsb Amo-ilation-Copyrtehl Melbourne, October 27. In tho coarse of his Budget statement, Mr. Fisher, Prime Minister and Treasurer announced that among tho chief items of expenditure Inst year were the fallowing:—Construction of fleet, -E1.075,000; invalid' and old ago pensions, .£371,315; sugar bounty, ,£228,478; collecting census, ■£98,325. A vote of £760,000 is allotted this year, and a similar amount for next year, to briaj the telegraph and telephone systems to an efficient state, while a special additional voto of .CGOO.OOO will bo paid into a trust fund to be used during tho next two or three years. A sum of ,£IOO,OOO is allotted for establishing tho Federal capital. Tho Treasurer proposes to use £1,112,079 of the surplus for fleet construction, tho total voto under this head being .£1,515,000. The postal rovenno last year amounted to .£3,917,0-18, and tho expenditure to .£3,681,923. The postal expenditure for tho current year is estimated to exceed tho revenue by £474,000. Transcontinental Railway. A sum of .£22,500 has been appropriated for the initial expenditure on tho Transcontinental Railway. The amount repayable to tho States during the current year is .£5,800,250. The proposed expenditure on new works includes:—Military College, .£40,000; naval barracks and submarine depot, £53,000; small arms factory, £19,000; four batteries of field artillery, £15,000; rifles for Senior Cadets, £65,000; wireless stations, £16,800. A new Department (the Prims Minister's) is to bo created. Referring to the Vancouver mail service,- Mr. Fisher said the contract had not been renewed, but provision had been made for paying a poundage rate on mail matter. Tho loss on tho Pacific cable last year was .£43,210, of which amount £0075 was payable by tho Commonwealth. Whole Navy Bill to bo Paid. Dealing with tho fleet .votes, Mr. Fisher said that by June 30 next £3,000,000 out of tho £4,000,000 would have been provided. When all tho ships had been placed in commission the estimated annual upkeep was set down at about £750,000. Tho Imperial • Government had offered to contribute £250,000 of this sum. The Government, however, had decided that the Commonwealth should bear tho full expense, and the Imperial Government was therefore relieved of furnishing a subsidy. Provision had been again made on the Estimates for tho linking up of Australia and Papua by wireless telegraphy, and a sum for developing the Tubber plantations there. Effect of Land Tax. Mr. Fisher mentioned that tho raport from tho valuers showed that tho land tax had not caused any decrease- in land values; in many coses there had boen an advance since the tax was imposed.

A Bill would shortly be introduced to authorise tho issue of Commonwealth stocks. He favoured the consolidation of State debts, but.regretted,.that.inquiries had shown that the time was not yet opportune to force this question. Tho Government hoped before many years to have a speedier transport service from Australia to all parts of the world. The speed of tho present mail service was too slow. Tho timo taken on tho voyage to England should be reduced by at least a week. Tho Leader of tho Opposition, Mr. Deakin, congratulated Mr. Fisher on his speech. The outlook, ho said, was exceedingly encouraging.