THE NEW SOUTH WALES BUDGET.
(reuter’s telegrams.)
Sydney, March 30.
In the Legislative Assembly tonight the Colonial Treasurer delivered his Budget statement to a crowded attendance. He announced that the Customs Act of last session would be repealed. A new tariff would.be introduced, which would be limited to 24 articles selected for revenue purposes, and would consist of ad valorem duties only. All other duties would expire on the 13th of September next. The new duties would include a higher rate on spirits, and an excise duty on colonial ales. The estimates of expenditure show a reduction of L 450,000 on the appropriations for 1886, and the Treasurer estimates an improved revenue to yield by the end of the year a surplus of LBOO.OOO. The deficit left by the previous Government, which has been ascertained to be over L 2,600,000, the Colonial Treasurer proposes to separate from the current transactions of the country, and to
pay off, by savings, within eight years. No other measure for new taxation is proposed, and no fresh loan will be issued this year. The Budget statement was well received.
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Bibliographic details
New Zealand Mail, Issue 787, 1 April 1887, Page 17
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185THE NEW SOUTH WALES BUDGET. New Zealand Mail, Issue 787, 1 April 1887, Page 17
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