NEW SOUTH WALES FINANCES.
MR LANG'S PROPOSALS.
INCREASED SALARIES TAX
(TJKITSD rnESS ASSOCIATION —BY BLECTRIC TSLEGRArn —COPVr.IGHT.) (Received November 23rd, 5.5 p.m.) SYDNEY, November 23. Rumour ie busy forecasting the State Government's financial proposals ; but whatever the Treasurer, Mr J. T. Lang, may have in his mind remains a well-kept secret.
His scheme will bo submitted to the Caucus before the Assembly meets next week.
A big increase in the salarien tax is regarded as certain. One shilling in tho £ is mentioned, in place of 3d, but one suggested alternative is a levy of 2a in the £ on all moneys, in the shape of foiced loan bonds, bearing interest at 5 per cent., which will be issued to persons and taxed from £lO,000,(XX) to £12.000.000 in a year. From this source it is expected that material assistance will be obtained in absorbing unemployed. National Debt Commission. Funds totalling £31,981,000 have been handled by the Commonwealth National Debt Commission since the establishment of the sinking fund in 1923, and £31,407,000 haß been paid off for redemption of debt during this period.
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Press, Volume LXVI, Issue 20093, 24 November 1930, Page 11
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180NEW SOUTH WALES FINANCES. Press, Volume LXVI, Issue 20093, 24 November 1930, Page 11
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