N.S.W. BUDGET.

Dominion, Volume 4, Issue 993, 7 December 1910, Page 5

N.S.W. BUDGET.

. $ DECREASE IN REVENUE. LARGE DEFICIT IN NEAR FUTURE Dy Tclecraph-Press Association-CoDyrleat. (Bee. December 7, 0.30 a.m.) Sydney, December 7. Mr. M'Gowcn, the Now South Wales Premier, in delivering his Budget, called attention to tho Departmental estimates prepared before the Government took office, and said the short time at their disposal did not allow any change of policy or reorganisation of finances. All he would do was to make modifications, so as to meet the diminished revenue for the financial year. The estimated revenue for the past year was .£14,279,927, and the actual receipts £15,197,750. The expenditure was ,£14,230,356, or .£130,513 in excess of the estimate. The estimated revenue for the current year was £614,393,621, and the estimated expenditure i>14,300,151, leaving a surplus of'£93,-1-10. . He proposed to impose no additional taxation at present, but during the recess he would seriously consider the now taxation which would be "necessary to balance accounts. It was evident in the light of' tho phenomenal increases in expenditure and the diminution of the expected Commonwealth returns that a large deficit would I have to be faced in tho near future.