N.S.W. BUDGET

Greymouth Evening Star, 11 October 1928, Page 5

N.S.W. BUDGET

MR. BAVIN’S STATEMENT

(Australian Press Assn. —United Service.) (By Cable—Press Assn— Copyright.)

SYDNEY, October 10

Mr Bavin delivers the State Budget this evening. It anticipates an increase of from £600,000 to £700,000 from income taxation. This will be gained by an adjustment. The new rates are to be announced in a Bill to lie presented to Parliament next month. It is estimated that there will be a surplus of a quarter of a million. The Budget also foreshadows financial reforms, reducing taxation b ul " dens this year by over one million sterling. The amended income tax starts at £250 for those without dependents. The estimated revenue for the vear is twenty-one millions, and the expenditure £20,766,000. The State public debt on June 30 amounted to £245,000,000, £1,300,000 of which will bo extinguished this year. The Commonwealth Loan Budget, to be introduced separately later, will provide for an expenditure of over fourteen millions for the current financial year, four and a-half millions being for main roads. LATER— Railways are expected to yield £21,350,000, tramways £4,685,000, making the total £47,791,000. The railways are anticipated to show a surplus, and the tramways £68,000. The Treasurer has introduced new systems for public accounts to clarify the position, which was hitherto obscure. The actual deficiency for the year ended June 30, was £1,095.000 or £502,000 less than expected. The current year is expected to show a. surplus of £194,000.