N.S.W. FINANCE.

Press, Volume LXIII, Issue 19156, 12 November 1927, Page 18

N.S.W. FINANCE.

—"♦_ — MR BAVIN'S STATEMENT. LABOUR'S HUGE DEFICIT. ' (bi CABLJ PBBSS association—copikiqht.) (AUSTRALIAN AXO V.Z. CABLE ASSOCIATION.) (Received • November 11th, 11.40 p;m.) SYDNEY, November 11. In the Assembly, ]\lr T. R. Bavin delivered the financial statement. He said the present financial outlook, although full of difficulties, was not so grave" that it could not be dealt with successfully by intelligent and prudent methods. The present Government was determined ,to exploit every avenue and give all its energies to an endeavour to strengthen the economic position and restore public confidence.. Owing to its recent assumption of office, the Government could not give an exhaustive financial statement to the House, but could state that the deficit left by the Lang Government amounted to over £4,225,000. The Government would endeavour to reduce taxation, but with the state in which it found the treasury, that would be a hard matter. It -.-as hoped, however, by careful management and sane Government to put the State on a sound financial basis. Mr Bavin then gave notice of the introduction of Bills to terminate the appointments of Mr Kay to the Meat Board, and place the Administration of the city under a Commission.