SOUTH AFRICA

Southland Times, Issue 19509, 8 May 1922, Page 5

SOUTH AFRICA

THE UNION BUDGET. ADJUSTMENTS OF TAXATION. (By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.) CAPETOWN, May 6. In the course of his Budget speech, the Minister of Finance showed an estimated expenditure of £28,250,000, a decrease of £l,£OO,OOO compared with the previous year. The accumulated deficit at the end of March was £1,250,000, which was better than was anticipated. He proposed to carry the deficit forward. A deficit for the new financial year was anticipated, and estimattd at £BOO,OOO. He did not propose to interfere with public service salaries, but thorough organisation was necessary. The iGovernment would increase taxation as little as possible. Adjustments would be Xnade in the tobacco and cigarette duties. The Post Office fihancies were improving. If this continued one of the first measures •would be a return to penny postage. He intended to reimpose the original duty of 25 per cent, on blankets, rugs, and certain article . Material for union industries would be placed on the free list. It was also intended to introduce the long overdue reform of taxation in respect to estate duties coupled with succession duties, the former ranging from 1 per cent, on estates valued nt £2OOO to 16 per cent, on three-quarters of a million. The final estimated deficit £400,000.