SOUTH AFRICAN BUDGET

Dominion, Volume 13, Issue 186, 3 May 1920, Page 5

SOUTH AFRICAN BUDGET

STARTLING EXPANSION OF TRADE. ' • Cape Town, April 30. Ii introducing the Budget in the House of Assembly, Mr. H. Burton said tho revenue for the current year, estimated at .£23,750,000, actually realised .£26,750,000. Tho increase, 16 per. cent., was largely due to the phenomenal rise in tho value of diamonds, and the heavy increase in, the importation of luxuries. The expenditure amounted to .£24,500,000 leaving a surplus of ~£2,250,000, which, according to law, would be .devoted to redemption of the debt. Mr. Burton describeu the. expansion of trade as startling. - Referring to the coming financial vear, h° said the estimated revenue was '.£28,000,000, . and the expenditure ,£27,500,000, giving a surplus of ,a little over half a million. Since 1914 the cost of the Public Service had risen by' ,£4,500,000. The Post Office -was not paying its way. It was proposed to raise the letter postage from a penny per half-ounce to a penny-halfpenny for 1J' 1 ounces. ■'■ Tho belegiraph rates would also be increased. The revenue from these charges would increase the surplus to .£488,000, and it was proposed to applv this to reducing the difficulties of 'the poorer classes. Tho estimated surplus would disappear,' leaving a deficit of J637.0C0, which would be left to look after itself—Aus.N.Z. Cable Assn. '•, ■''■ : ■"■'"