NEW SOUTH WALES BUDGET.

Wairarapa Age, Volume XXX, Issue 8869, 1 November 1907, Page 5

NEW SOUTH WALES BUDGET.

LARGE REMISSIONS OF TAXATION. VIGOROUS LAND POLICY. Received October 31, 9.11 aja. ' - SYDNEY, October 31. The Budget showed receipts in the closer settlement fund to June 30th, totalling £484,490, with an expenditure of £236.234! The loan expenditure of the year-r £1,233,000--was the lowest for ten years. Under the income tax exemption 21,000 persons are freed from taxation to the extent of £83,000. Stamp duties will be abolished from January Ist next, involving a further reduction of revenue of £65,000. The total amount of revenue remitted this year is £550,000, and next year the amount will be larger. A sum of £60,000 is set aside for increases of teachers' salaries and £80,600 for new schools. Railways and .'ramways yielded a net return of £4 19s 4d per cent, on the capital invested. The Estimates for the current year are framed in view of the effect the drought may have on the financial position. The estimated expenditure £11,949,048, leaving a surplus of £850,896, which, adding the credit from last year, will make the aggregated surplus £1,863,831. - Loan expenditure will be confined to reproductive works, and will be limited to about £2,200,000. Mr Waddell announced that the Government would pursue a vigorous policy of land for settlement. .Mr M'Gowan declared that the Labour party wou'd oppose remission of taxation, because it did not tend to lighten the burden of the poor man.