NEW SOUTH WALES FINANCE

Dominion, Volume 21, Issue 172, 21 April 1928, Page 11

NEW SOUTH WALES FINANCE

♦ — - ■ OUTLOOK DECLARED BRIGHT STRICTEST ECONOMY TO BE EXERCISED Sydney, April 20. The State Budget showed that the revenue for the year ended June 30, 1927, totalled £44,261,039, and the expenditure £42,802,107, leaving a surplus of £1,458,932, due mainly to the large increase in receipts from direct taxation, which totalled £3,079,000, an increase of nearly 35 per cent, compared with the previous year. The suspension of the collection of the family endowment tax will be extended a further six months, and should it then be decided to continue, this means of raising the necessary funds, a tax of approximately from 1 to 1} per cent, will suffice instead of the 3 per cent, imposed by the Lang Government. The Assistant-Treasurer, Mr. . Bertram Stevens, concluded that while the general outlook was extremely bright and such as to inspire the utmost confidence, the Government did not intend to indulge in extravagant, unnecessary expenditure or relax its efforts to ensure the exercise of the strictest economy in the administration and services of the Government. MOTION OF CENSURE DEFEATED Sydney, April 20. Mr. Lang’s motion of censure on the Government for failure to cope with unemployment and the influx of Southern Europeans into the State was defeated by 44 votes to 39.