SOUTH AFRICA.
PRESENTATION OF BUDGET. TAXATION TO MEET DEFICIT. .CAPETOWN. March 23. Exceptional interest was taken in tho presentation of tho Budget to-day when the Assembly was packed. The Minister of Finance, Mr. N. C. Haveuga, denied rumours that devaluation was probable. Tho Government refused to launch the country in a " rake's progress." He estimated that £9,000,000 had been sent, overseas over and abovo the ordinary requirements. Including' a deficit of £900,000 from tho previous year and a shortage of £2.000,000 on the estimated revenue the deficit to be met was £3,735,000. Extra taxation would provide £3,535,000,. including imposts on the gold industry and a surtax of 5 to 10 per cent, on fixed interest. There would Lie import duties on farm machinery, spirits and tea.
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New Zealand Herald, Volume LXIX, Issue 21141, 26 March 1932, Page 9
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126SOUTH AFRICA. New Zealand Herald, Volume LXIX, Issue 21141, 26 March 1932, Page 9
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