N.S. WALES FINANCES

Evening Star, Issue 14532, 7 December 1910, Page 6

N.S. WALES FINANCES

NEW TAXATION FORESHADOWED. IF YOU SPEXI), YOU MUST PAY. Press Association —By Telegraph—Copyright. SYDNEY, December 6. The. Premier (Mr M'Gowen) delivered the Budget to-day. He called attention to the departmental Estimate*, which wero prepared before the present Government took office, and said 'hat the short time at their disposal did not allow them to make any change in policy or the reorganisation of the finances All the Government would do was to modify them, and so make- the expenditure, meet tho diminished revenue for tho financial vcar. Tho estimated revenue for the pist year was £14,279,927, and the actual receipts were £15.197,750. 'llie expenditure, was £14,230,386. The estimated jevenue for the current year is £14,393,621, and tho estimated expenditure £14,300,181, leaving a surplus of £93,440. Tho Government proposed no additional taxation at present, but during tho recess they would seriously consider tho question of new taxation, which would bo necessary to balance tho accounts. In the light of the phenomenal increases of expenditure and the diminution expected in (he Commonwealth's returns, a large deficit wili have to bo faced in the near future.