THE NEW SOUTH WALES BUDGET

New Zealand Mail, Issue 1649, 7 October 1903, Page 69 (Supplement)

THE NEW SOUTH WALES BUDGET

SYDNEY, September 29. The State Treasurer, Mr Waddell, 'delivered his Budget to a full House tonight. After a lengthy reference to the evil effects of the late drought upon the revenue, and a reply to London criticisms of the State’s finances, Mr Waddel '.announced that the- revenue for the year ended June 30th was £11,296,000, and the expenditure £11,462,000. Tho year opened 'with a deficiency of £237,000, and closed with a, defieio icy of £484,000. On a business basis the deficiency left was £273,524. Tho Treasurer explained that during tho year £250,000 was paid towards liquidating old deficiencies and £119,000 towards redeeming loans. The estimated revenue for the current year was £11,507,000, and expenditure £11,474,000. The revenue includes estimated receipts from the Commonwealth of £2,800,000, as against £3,053,000 received last year, but probably this estimate would be; exceeded. Mr Waddell said there was a prospect of a splendid harvest and a rapid return to prosperous times. He foreshadowed the strictest economy, revmarking that although the Government looked forward to 1 prosperous antes, owing to the return of good seasons, it intended to proceed cautiously and build up again the credit of tho State. Future loan moneys would -mly be used for directly reproductive works, moneys received from the sale of land being deveked to other public works.