New South Wales Budget.
(RKUTKII'S TELEGRAMS.) SYDNEY, March 30. In ihe Legislative Assembly to-night, the Coloni.il Treasurer delivered his Budget statement to a crowded attendance, and announced that tho Customs Act of last session would be repealed. A new tariff would be introduced, which would be
limited to twenty-foiir articles selected forj revenue purpose?, aud would consist of ad valorem duties only ; all other duties would expire on the 30th September next. The new duties would include a higher rate on spirits and excise duty on colonial ale. The estimates of expenditure show a reduction of £45,000 ou the appropriations for 1886. The Treasurer estimates an improved revpnue veld by the end of the year, yielding a surplus of £800,000. The deficit left by the previous Government, which has been ascertained to be over £2,700,000, the Colonial Treasurer proposes to separate fvom tb.B cuvifßnt transactions of the country and pay ifc off by savings within eight years. No other meaasure for new taxation was proposed. No fresh loan will be issued this year. The Budget statement was well received.
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Bibliographic details
Hawera & Normanby Star, Volume IX, Issue 1589, 31 March 1887, Page 2
Word Count
179New South Wales Budget. Hawera & Normanby Star, Volume IX, Issue 1589, 31 March 1887, Page 2
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