FEDERAL BUDGET

Hokitika Guardian, 9 July 1926, Page 1

FEDERAL BUDGET

[Australian & N.Z. Cable Association.} (Received this day at S a.m.) MELBOURNE, July 9In the House of Representatives Mr Page delivered his budget. He said the revenue for 1925-26 amounted to £58,996,261 and expenditure to £Ol,818,846, but with the surplus of £3,109,529 carried forward from tho previous year left a surplus for 3 1925-26 of £286,944. In addition the Government had in hand £2,500,000 in a trust fund .including one million for naval construction not provided for in the 1925-26 budget, so that they ended the year with £2,780,000 in hand. The chief increases in revenue during "he year were customs excise. £1,998,883, and direct taxation £1,064,124, the total increase being £3,422,001. The estimated revenue for 1926-27 was £51,382,000 and estimated surplus £149,381. The gross national debt at the end of June was £458,443,637 comprising war debt £304,546,643, debts incurred for States £83,208.859. other debts £70,488.135. After making deduction for leans to States and other purposes tho net debt was £338,841,476 compared with a net debt of £339,002,105 in June 1922. As the population during this period bad increased by 481,855 the not debt of the Commonwealth v. as

now £4 14s 10s per hood less than in 1922. The gross debt of Australia per head of population was £166 sterling. Tho total Commonwealth and Stale debts amounted to £899,892,535.