AUSTRALIAN FINANCE.

New Zealand Herald, Volume LXV, Issue 20075, 12 October 1928, Page 13

AUSTRALIAN FINANCE.

VALUE OF CO-ORDINATION. SPEECH BY DR. EARLE PAGE. SYDNEY. Oct. 11. Dr. Earle Page, tlio Federal Treasurer, in the course of a speech, said (he recent financial adjustment between <lio Commonwealth and the States, by which tho States lost the payment per head of population, would savo £5.000.000 of public money. Further efforts would be made toward co-ordinating tho functions of the Commonwealth and the States with the object of effecting still greater economies and efficiencv.

Dr. Page claimed that the six years' record of achievement of the Bruce-Page composite Government had substantially improved the position of the countryftian, and had altered the whole outloolt of the country's development.

NEW SOUTH WALES BUDGET.

DEFICIENCY FOR YEAR

SYDNEY, Oct. 11,

In liis Budget speech yesterday the Premier of New South Wales, Mr. T. Jl. Bavin, said that in addition to (Tie, estimated ordinary revenue of .€21,758,000, the railways are expected to yield a gross revenue of £21.550.000 and the tramways a gross revenue of £4,683,000, making a total of £47,791,000. TTic railways are anticipated to show a surplus and tho tramways a surplus of £68,000.

Tho Treasurer has introduced a new system into tho public accounts, to clarify the position which has hitherto been obscure. The actual deficiency for the year ended Juno 30 was £1,095,000, or £502,000 less than had been anticipated. Tho current year is expected to show a surplus of £194.000.