SOUTH AFRICA
BUDGET DEFICIT ANNOUNCED.
FRESH TAXATION NECESSARY.
(United Press Assn.—By Telegraph—Copyright.)
Cape Town, March 23.
Exceptional interest was taken in the Budget. The Assembly was packed. The Minister denied rumours that devaluation was probable. The Government, he said, refused to launch the country on “a rake’s progress.” It was estimated that £9,000,000 had been sent overseas over and above the ordinary requirements. Including the deficit of £900,000 from the previous year and a shortage of £2,000,000 on the estimated revenue, the deficit to be met was £3,735,000. Extra taxation provider! £3,535,000, including imposts on the gold industry, a surtax of from 5 to 10 per cent, on fixed interest and import duties on farm machinery, spirits and tea.'
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Bibliographic details
Southland Times, Issue 21662, 26 March 1932, Page 5
Word Count
119SOUTH AFRICA Southland Times, Issue 21662, 26 March 1932, Page 5
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