AUSTRALIAN-NEWS

Hokitika Guardian, 11 October 1930, Page 5

AUSTRALIAN-NEWS

FEDERAL REVENUE.

(Australian Press -Association.)

CANBERRA October 10,

The Commonwealth l finances for the past quarter disclose an excess of expenditure over revenue amounting to £6,747,000. The Customs revenue is at least two millions below the; estimates. A similar position is disclosed with re-gard-to the sales tax, state duties, and postal revenue. > .; . NEW EXCHANGE RATE. SYDNEY, October 10. The “Sydney Morning Herald,” says :—The new exchange rates be- ..* tween Australia and London will not w cause any appreciable change in the '* prices of the goods to be. imported, or *' in the local values of the produce .exported from Australia, for the reason that the exchange • business, for a month past, has been done on a basis that has been within ten shillings per hundred pounds sterling of the rate now’ quoted.' ■ t ' • t . The “Herald” adds that adjustment in the NW Zealand rates will he an- . nounced later. • ; .. • i RAILWAY WAGES OUT. (Received this dav at 9.30 a.m.Y •» -' • ’SYDNEY, Oot. 11. y Tlie Railway . Commtssiosters 'an- .. nounce a» a result of the setting wide | of the Federal awards that the eight ; and a third per cent red notion of \ wages provided for under the State £ awards will be made general throughout the . service, operating from tomorrow. ; ; v VV '' I . FEDERAL RETURNS. CANBERRA, October 11. The Federal,: revenue .figures cannot be taken as ,an accurate indication of .what ths position will be at the end of the financial year. On tlie 'revenue side, tor . instance, nothing lifts yet ibeen. received on account of.' interest on loans to. the States, which are estimated to yield £1,519,000 sterling-..before June 1931. - : DEFICITS IN REVENGE. CANBERRA, Oct.' 11. The quarter’s- deficit. in - South - Australia was £1.120,784 and Tasmania £33,939. sterling. ; , ; i SOUTH AUSTRALIAN .-: ‘l . ' ; . . economies: , , ■ (Received this day at' 9.40 *.m.) *' ADELAIDE, Oct. 11. In moving . the second reading .of G the Road and Transport Bill in the Assembly, the Minister of Railways, Mr Denn.V, said,; that economies ftifietMtirig to £611,0)30 sterling will . ht* eft'ot* ted. Thb salaries of'.officer* will . t 'be redttwdj the over Lj nine., 'hundred officers - and men car* liedi out and many free pasw* dis* continued. ; ' ' ‘ ‘ BASIC WAGE REDUCED. ADELAIDE, Oct. 11. The Board of .‘lndustry has- decided ;■ that the State basic wage be reduced from £4 5s 6d .a week to £3 15s.