SURPLUS OF £803,507

New Zealand Times, Volume L, Issue 11654, 19 October 1923, Page 6

SURPLUS OF £803,507

NEW SOUTH WALES BUDGET. NO TAXATION RELIEF. By Telegraph.—Press Assn. —Copyright. (Received October 19, 1 a.m.) SYDNEY, October 18. In the Assembly, the Treasurer delivered the Budget. He said the estimated receipts for the year were £35,392,640; the actual receipts totalled £36,178,008. The estimated expenditure was £35,466,919, and the actual expenditure was £35,454,844. This included special payments of nearly £600,000 not provided for in the Estimates. Taking into account the advances repaid and other receipts, the total revenue and receipts amounted to £36,258,351, and the expenditure to £35,454,844, leaving a net surplus of £803,507. The estimated revenue for the coming year amounts to £37,275,395 and the expenditure to £37j263,890. leaving an estimated surplus ot £11,705. The Public Debt increased during 1922-23 by £6,897,169, and at the end of June was £183,571,556. The accumulated deficit now amounts to £2 774,755. It was stated that in view of the Bmall surplus next year, and the accumulated deficit, there would be no relief in taxation, and unless both ends were made to meet, drastic alterations would have to be made in Governmental arrangements, or fresh taxation imposed.