NEW SOUTH WALES

New Zealand Times, Volume XXXVI, Issue 8260, 24 October 1912, Page 7

NEW SOUTH WALES

THE BUDGET LOAN OPERATIONS AND NEW TAXATION. By Telegraph—Press Association—Copyright SYDNEY, October 23. Tho Budget showed that the railway and tramway earnings for tho year totalled £8,872,800. After paying working expenses, the net return Irom the capital invested was £'4 10s 4d per cent.

Tho deposits in tho Government Savings Bank increased by £2,500,000, tho total balance to tho credit of 435,000 depositors being £18,612,000. The estimates of proposed expenditure on public works total £6,113,170, including £2,427,000 for new railways, duplications, and rolling stockThe Treasurer anticipates there will bo no difficulty in raising the loan money required; he has every confidence that he will be able to provide £6,000,000. Ho proposes to raise £200,000 by new taxation from probate and stamp duties, and £70,000 by readjustment of the income tax.

Last year 7784 buildings were completed in Sydney and suburbs at a cost of £4,495,017 —a record total. Tho overseas trade amounted to £69,504,829, an increase of £4,230,385. The excess of exports over imports was nearly £5,000,000, The butter exports increased by £6,600,000. The Treasurer anticipates a decrease in the wool clip owing to the drought, but a satisfactory harvest. FIGURES CORRECTED. (Received October 23, 9.16 p.m.) SYDNEY, October 23. The following are corrected figures of the Budget: £ Revenue, 1911-12 15,776,000 Expenditure 15,732,081 Surplus £43,919 Estimates for coming year: £ Revenue 17,035,508 Expenditure 17,001,200 . Expected surplus £34,808 CENSURE MOTION MOVED. SYDNEY, October 23. In tho Assembly Mr W. H. Wood, on behalf of tho loader of the Opposition, moved a no-oonfldenoe motion, and on Mr McGowan's motion the Assembly immediately adjourned.