MEW SOUTH WALES BUDGET.

New Zealand Herald, Volume XXIV, Issue 8916, 3 December 1887, Page 5

MEW SOUTH WALES BUDGET.

DEFICIT OF £150,000,

NEW TAXATION PROPOSED.

TARIFF REVISION,

[renter's TELEGRAM,. J

Sydney, December 2. _ The Colonial Treasurer delivered his Financial Statement in the Legislative Assembly last night. The surplus of £910,000 prognosticated by his predecessor has not been realised, but instead it was estimated that at the close of the current financial year there would be a deficit of upwards of £150,000, The chief increases in excess of the estimates were:—Land fund, £340,000; ad valorem and specific Customs duties, £119,000; spirits and beer duties, £130,000; railway revenue, £150,000 ; all other sources of revenue being less than estimated. In addition to specific appropriations, the sum of £190,000 has been expended on rabbit extermination and providing relief for the unemployed. TheOolonialTreasurer proposes to meet the deficiency by readjusting the salaries of Civil servants, imposing a property tax of £d in the pound on unimproved land, also the capital reserve funds, and deposits of financial institutions being similarly taxed. The Customs tariff revision provides for levying duties upon imported timber and dairy produce. The Statement announces the determination of the Government not to float a new loan for some time, but to issue Treasury Bills. The estimated revenue for the ensuing financial year amounts to £8,781,000, and the expenditure to £8,515,000, leaving a surplus of £266,000.