SOUTH AFRICA
HANDSOME SURPLUS.
(Received Thursday, 11.35 a.m.) CAPETOWN, Wednesday. The Hon. N. C. Havenga (Minister of Finance) delivered his Budget, which was favourably received. He estimates tho current year ’s surplus at £2,253,000, which he will apply to sundry capital accounts, public debt, and the establishment of a national roads fund. For the coming year he expects a surplus of £2,255,000 on the same basis as 1934-5. Ho will apply this surplus to reduction of various customs duties, totalling £450,000, a special payment of £170,000' to Native development, and sundry sums in the form of provincial subsidies arising from a new scheme, of financial relations between the Union and the Provinces. The mining taxation formula for the coming year remains unchanged, but the duty is increased by 35 per cent, in order to make good a shortage estimated in mining taxation in the current year of £1,000,000.
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Wairarapa Daily Times, 21 February 1935, Page 5
Word Count
148SOUTH AFRICA Wairarapa Daily Times, 21 February 1935, Page 5
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