THE FEDERAL BUDGET
NO INCREASE OF DIRECT TAXATION. CLOUDS OF DEPRESSION DISAPPEARING. (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, August 30. (Received August 31, at 1.50 a.m.) In the House of Representatives Dr Earle Page (the Federal Treasurer) delivered his Budget speech. He said the estimated revenue at the end of the present financial year would amount to £63,610,000 and the estimated expenditure to £63,597,000, leaving a surplus of £13,000,000, compared ■with a deficit of £2,(330,237 last year. There would be no increase of direct taxation and it had been decided to abandon the proposal to tax overseas incomes. Dr Page added that he was satisfied that the clouds of depression were disappearing from the financial horizon and the country could look forward to a continuance of the prosperity which in recent years had been characteristic of the conditions in Australia.
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Otago Daily Times, Issue 20501, 31 August 1928, Page 9
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141THE FEDERAL BUDGET Otago Daily Times, Issue 20501, 31 August 1928, Page 9
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