AUSTRALIAN NEWS

Otago Daily Times, Issue 18998, 20 October 1923, Page 10

AUSTRALIAN NEWS

NEW SOUTH WALES BUDGET. URGENT NEED FOR ECONOMY. frwa Association—By Telegraph—Copyrijat SYDNEY. October 18. In the Assembly the Treasurer (Sir Arthur (Jocks) delivered the Budget. He said the. estimated receipts for the year were £35,392,640, and the actual receipts totalled £36,178,008. The estimated expenditure was £35,466,919 and the actual expenditure £35,454,844. This included special payments amounting to nearly £600,000, which were not provided for in the Estimates. Taking into account the advances repaid and other receipts, the total revenue and receipts. amounted to £36,258,551, and the expenditure to £35,454,844, leaving a net surplus of £803,507. The estimated revenue for the coming year amounted to £37,275,595, and the expenditure to £37,263,890, leaving an estimated surplus of £11,705. , ' The Public Debt had increased during 1922-23 by £6,897,169, and at the end of June it was £183,571,556. The accumulated deficit now amounted to £2,774,755. It is stated that in view of the small estimated surplus next year and the accumulated deficit there can be no relief in taxation. Unless both ends are made to nieet drastic alterations will have to bo made in the administration arrangements or fresh taxation imposed.

STRAINED PARTY RELATIONS. SYDNEY, October 19. Since the Country Party nominated Mr Abbot against the Nationalist candidate (Mr Massey Greene) for the Senate vacancy the relationship between the parlies has been weakening. It is stated authoritatively that the Country Party will refuse to keep the Government in power for the full term, and an election about Juno is forecasted. ITALY BUYS AUSTRALIAN MEAT. SYDNEY, October 19. A consignment of frozen meal, which has been shipped to Italy by the Principcssa Giovanni, is expected to lead to a new market in Italy for Australian beef. MARTIN PLACE RESUMPTION. SYDNEY, October 19. (Received Oct. 19, at 5.5 p.m.) Owin'* to the legal questions which 'ire involved in the Martin place resumption, the scheme, which had previously received the general endorsement of the Cabinet, has not been finally endorsed by the Cabinet. It is expected, however, that finality will be reached or. the matter next week.