AUSTRALIAN BUDGET

Greymouth Evening Star, 26 July 1923, Page 5

AUSTRALIAN BUDGET

TAXATION AS BEFORE. (Australian and N.Z. Cable Associati. , MELBOURNE, July 25. Dr Earle Page (Federal Treasurer) will deliver his first Budget on- Thursday. He will announce a surplus of approximately £7,700,000, of which £6,400,000 was carried over from last year. The past ye ar’s revenue exceeded 4.1, - wx i _ um. ... ri..

the expenditure by a little more thar £1,250,000 , which excess is mainly due to a big increase in the Customs and excise revenue, amounting to five mil? lions more than the estimate. Referring to the current year, the Budget will state that, owing to the huge commitments for war service that have still to be met, amounting to more than thirty millions last year, there will be no reduction in the income tax. The Budget will announce a reduction in the letter rates to three halfpence, which is made possible by the postal revenue exceeding the expenditure by nearly two millions. A mark-time defence policy, involving no new features, will be put forward, on the ground that nothing should be done until after the Imperial Conference. 'There will be no alteration of the tariff duties, pending recommendations by the Tariff Board. 'The need for a larger appropriation from the present and'future surpluses for a sinking fund to pay off the Commonwealth indebtedness will be empldUced.