HARD-UP VICTORIA.
DRASTIC RETRENCHMENT,
By Telegnph—Press Association—Copyrighl
Melbourne, Aug. 5.
In his Budget speech the Treasurer said the Government asked for tho sanction of urgent proposals for securing an absolutely irreducible minimum of expenditure. To meet the deficit it was proposed to postpone payment of £1148,000 of debentures, to retrench public servants to the extent of £75,000, beginning with salaries exceeding £125 a year, beginning at 3 per cent., and to go up to 10 per cem on the higher amounts. Increments will be stopped on all salaries over £3OO. Tho service, he said, was overmanned, and would bo gradually reduced. It was proposed to’take £50,000 off municipal endowments, £20,000 off charity, £60,000 off railway expenditure, and £45,000 from the general estimates. This would still leave a deficit of £72,000. If when the Budget proper was delivered there had been no improvement the Government would propose new taxation to the extent of £82,000. He said the necessity for retrenchment was chiefly due to federation, which had cost Victoria £427,000. The total direct cost to Victoria of federation and for old-age pensions last year was £470,000.
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Bibliographic details
Gisborne Times, Volume VIII, Issue 496, 7 August 1902, Page 4
Word Count
185HARD-UP VICTORIA. Gisborne Times, Volume VIII, Issue 496, 7 August 1902, Page 4
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