FINANCES OF AUSTRALIA.

New Zealand Herald, Volume LXVII, Issue 20678, 25 September 1930, Page 11

FINANCES OF AUSTRALIA.

NEW SOUTH WALES VIEWS. LEADERS AND THE ELECTORB. REMEDIES FOR THE CRISIS. MR. BAVIN NEARLY MOBBED. By Telegraph—Press Association—Copyright. (Received September 24, 5.5 p.m.) SYDNEY, Sept.' 24. The Premier of New South Wales, Mr, T. R. Bavin, speaking at Bondi, said that unless the Premiers' financial pact was honoured ho could not see his way at present to paying public servants' salaries toward the end of the financial year. The foolish promises of Mr. J. T. Lang, Leader of the State Labour Party, were meroly humbugging the people. There was an ugly scene after the meeting when Mr. Bavin was surrounded by an angry mob and almost jostlod into his motor-car. The police guarded the gates leading to the hall and prevented the large crowd from gaining admission. The New South Wales Minister of Public Works, Mr. E. A. Buttenshaw, Leader of the Country Party, delivered a policy speech at Condobolin.. He said tho only issue before the electors was the ratification of the Premiers' financial agreement, which provided the only way out of tho present economic and financial crisis. The Country Party's watchword had always been, and still was, to reduce the costs of production. Mr. Buttenshaw promised to introduce a better mothod of marketing primary products, more especially abroad. Tho president of the New South Wales branch of the Australian Labour Party, Mr. J. Graves, who is the party's campaign director for the forthcoming general election in the State, hinted yesterday that if the party is successful at the polls an attempt will be made to introduce banking reforms whereby the community " will cease to bo the plaything of a coterie of banking institutions."

WESTERN STATE.

FEATURES OF BUDGET. TAXES AND LOWER SALARIES. (Received September 24, 5.5 p.m.) PERTH, Sept. 24. The Premier of Western Australia, Sir James Mitchell, stated to-day that the balancing of the State's Budget was a gigantic task owing to tho Loan Council not having provided the funds it had originally promised for tho State's commitments. Drastic economies, therefore, were contemplated. The salaries of all civil servants and politicians would be reduced and there would be an increased totalisator tax and entertainment tax, also a special tax of 3d in the pound for hospitals, to .be collected by means of stamps, on wages and salaries. The Premier estimated that it would be necessary to borrow £4,000,000 to pay accounts overdrawn last June. Also, it would be necessary to increase the revenue this year by £BIB,OOO, of which £IOO,OOO represented increased exchange. Tho Commonwealth Government was to be asked to increase its disabilities grant to £450,000. Features of the Budget submitted by the Premier are:—A surplus of £5628; an estimated revenue of £10,104,550; estimated expenditure, £10,098,922.