SOUTH AUSTRALIAN FINANCE
A PROSPEROUS STATE. United Press Association—Copyright Received September 5, 12.40 a.m. ADELAIDE, September 5. The Budget was delivered to-night. The Treasurer estimates to have a credit balance on June 30 next, of £48,423. The estimated revenue for the financial year is £3,135,329 and the basis of calculation is a nine bushel harvest, against 11 bushels harvested last year. The prospects for the coming year are particularly good. Cutting up large estates for closer settlement - proved exceedingly profitable. The railway revenue had increased £225,000 as compared with the previous year. The net income is equal to 5.15 per centum of the capital cost. The Government, he said, would reintroduce the progressive land tax. It was intended to spend £1,000,000 on works out of revenue. During the year ending June next it was estimated the State would hnvr- pa'd in redemption loans or in constructing works out of revenue the sum of £970,000 exclusive of the surplus which is expected at that date. ' prominent feature of the Budg-:‘ was the establishment of a minimum wage of _7s per day for all manual laborers in the employ of the State. The Treasurer hoped that private firms would follow this example.
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Bibliographic details
Gisborne Times, Volume XXV, Issue 2178, 6 September 1907, Page 2
Word Count
200SOUTH AUSTRALIAN FINANCE Gisborne Times, Volume XXV, Issue 2178, 6 September 1907, Page 2
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