AUSTRALIAN NEWS.

Hokitika Guardian, 31 August 1928, Page 3

AUSTRALIAN NEWS.

(Australian Press Association.) FEDERAL FINANCE. SYDNEY, August 31. At Canberra in the House of Representatives Mr Page delivered his budget speech. Flc said he estimated the revenue for the present financial year would amount to £03,010,000 sterling and the estimated expenditure was £03,507,000, leaving a surplus of £13,000, compared with a deficiit ol £2,030,237 last year. There will be no increase in direct taxation and it was decided to abandon the proposal to tax overseas income. Mr Page added that he was satisfied the clouds of depression were disappearing from the financial horizon and the country could look forward to a continuance of the prosperity which in recent years were characteristic of Australia.

AUSTRALIAN POLITICS. THE BUDGET. (Received this day at 9.30 a.in.) CANBERRA, August 31. Mr Five, speaking on the Budget, said loans" raised by the Commonwealth during the year totalled £40,000,00r . The Commonwealth had approved o 4 £7,250,000 expenditure by the States on 'migration, under the British-Aus-trillion migration scheme, where jv ll “ tain is advancing £34.000,000 at a very low interest, over a long perioc . A National Insurance scheme would he introduced as soon as possible, to which the Commonwealth and employer-. a.ul employees would jointly contribute. Soldiers’ widows would receive pensions of 43s weekly, without tin slightest condition. A War 1 cnsl ° ' Appeal Board would also be established. The war debt had been reduced to £293,500,000, while the public de >t stood at £494.000,000.