BUDGET SURPLUS.

Manawatu Standard, Volume LVI, Issue 283, 28 October 1936, Page 9

BUDGET SURPLUS.

NEW SOUTH WALES FINANCE. SYDNEY, Oct. 27. For the first time in nine years the finances of New South Wales show a surplus: The Premier (Mr B. S. B. Stevens) introducing his seventh Budget in the State Legislative Assembly to-night, estimated the surplus at £5874, as compared with a deficit of £1.700,000 last year and £14,200,000 at tho peak of the depression, in 1931-32. Mr Stevens announced that there would be no reduction in taxation, but all the remissions granted last, year are to be continued. Public servants from December will receive a restoration of 50 per cent, of their salary cuts, while full restroation of the depression cuts will be made at the end of the financial year. An additional £200,000 will be provided for unemployment relief and iood relief. The scales will be increased. Funds will be made available for training youths for industry, and £250,000 will be set apart for closer settlement, for which a new scheme is being developed. The railways will show their first surplus for 12 years. The Premier estimated receipts for 1936-37 at £49,7J 2,643 and expenditure at £49,706,769, leaving a surplus of £5874. TASMANIAN BUDGET. SURPLUS ESTIMATED. Received October 28, 10.30 a.m. HOBART, Oct. 28. The Treasurer (Mr E. Dwyer Gray), presenting the Budget in the Assembly, estimated a surplus of £1247.- The special and wages tax on small incomes will lie removed, and State public servants will receive a full restoration of their salary cuts.