THE VICTORIAN BUDGET.

New Zealand Herald, Volume XXV, Issue 9116, 26 July 1888, Page 5

THE VICTORIAN BUDGET.

REMISSION OF TAXATION. ] [PRESS ASSOCIATION.) ' Melbourne, July 25.: The Colonial Treasurer delivered his Financial Statement last night. «. The estimated revenue for the year has been exceeded by £600,000. The expenditure for the same period had decreased by £140,000, leaving. » balance carried forward of £837,000. The estimated revenue for the next! year is £7,792,000. The Governments propose to distribute lunatics through' out the country asylums on the cottage system. The railway freights are to be reduced, and reductions to one penny will be made on the _ letter ! postage of the colony, the latter involving a loss of £100,000. It is intended to reduce the duty on tea from 3d to ld and to remove the duty on coffee, cocoa, kerosene, and dress material worn by tho poorer classes. A uniform duty of 6d is imposed on leather, and dress goods (woollen) to be raised 25 per cent. It is estimated that the tariff reductions will amount to £85,000. - The Statement mentions that the inquiries made show „ that farming pursuits have much improved during the last few years. The Treasurer thought the duty on stock was a mistake as likely ,to hinder colonial free trade, and it would pro bably be removed at an early date. The Government had found it impossible to grant a bounty on wheat. :