THE NEW SOUTH WALES BUDGET.

Ashburton Guardian, Volume VII, Issue 1726, 3 December 1887, Page 2

THE NEW SOUTH WALES BUDGET.

[rBUTER'S TBLEGRAMB— - COPYRIGHT.]

Sydney, December 2.

The Colonial Treasurer delivered his Financial Statement m the Legislative Assembly last night. The surplus of ;£oio,ooo prognosticated by his predecessor was not realised, but instead it was estimated that at the close of the current financial year there would be a deficit of upwards of The chief increases m excess of the estimates were land fund advalorem and specific customs duties, spirits and beer duties, ;£i 39,000 ; railway revenue, ;£i 50,000 — all other sources of revenue being less tban estimated. In addition to a specific appropriation a sum of had been expended on rabbit extermination and providing relief for unemployed. The Colonial Treasurer proposes to meet the deficit by re-adjusting the salaries of civil servants, imposing a property-tax of one half-penny m the pound on unimproved land, also capital, reserve funds, and deposits of financial institutions being similarly taxed. Customs tariff revision provides for levying duties upon imported timber and dairy produce. The statement announces the determination of Government not to float a new loan for some time, but to issue Treasury bills, It is estimated the revenue for the ensuing financial year amounts to ,£8,781,000, and the expenditure to .£B,5 15,000, leaving a surplus of j£s66,©Q9,