N.S.W. FINANCE.

Manawatu Times, Volume XLVII, Issue 2777, 19 October 1923, Page 5

N.S.W. FINANCE.

ENORMOUS PUBLIC DEBT

NO REMISSION OF TAXATION

[By Electric Cable —Copyright.;] [Aust. and N.Z. Cable Association.] (Received Friday, 2 a.m.) SYDNEY, Oct. 19.

In the Assembly, the Treasurer' delivered the Budget. He said the estimated receipts for the year were £35,893,640. The actual receipts totalled £36,178,008. The estimated expenditure was £35,466,919, and the actual expenditure was £35,454,844. This included special payments to nearly £600,000 not provided for in the estimates. Taking into account advances repaid and other receipts, the total revenue and receipts amounted to £36,258,351, and the expenditure to £85,454,844, leaving a net surplus of £803,507.

The estimated revenue for the coming year amounts to £37,275,595, and the expenditure to £37,263,890, leaving an estimated surplus of £11,700. The public debt increased during J. 922-23 by £6;597,169; and at the end of June was £183,571,556. The accumulated deficit now amounts to £2,774,755.

It is stated that in view of the smafi estimated surplus next year, and the accumulated deficit, there can be no relief in taxation, and unless both ends wore made to meet, drastic alterations will have to be made in Governmental arrangements, or fresh taxation must be imposed.