N.S.W. BUDGET

Hokitika Guardian, 29 August 1931, Page 5

N.S.W. BUDGET

THIS YEAR'S SAVINGS.

(Australian Press Association.)

SYDNEY, .-Xigust 28

the Premier and the Treasuier of New South Wales, Mr J.Lang, delivering tlie State Budget to-day, estimated lie deficit on the current year’s financial operations to he £8,305,596. This, he said, included the sun of £l,672,722 representing the State’s unpaid interest “which the Go\ eminent temporarily suspended.”

He announced that the reductions to be made in the adjustable expenditure for IX3I-32 would yield £8.285,000 comprising, the twenty per cc-nt. economies, in conformity with the August Premiers’ Conference.

The only! new taxation mentioned by Mr Lang was an increase in the Family Endowment Tax by one per cent., making it two per cent., as there is an overdraft in this fund of £1,443,741.

The collections for the unemployment relief for the twelve months totalled £4,377,835. . Mr Bavin, leader of the Opposition, complimented the Premier on facing the realities of the situation and on abandoning his attitude of isolation, The only thing that remained for Mr Lang to do, tie. said, was to toil the country whether he had abandoned the “Lang plait.’-’ Otherwise all his goctf intentions so fur us the future was concerned, would be more humbug, The Budget did not include the Government’s obligations to depositors in the ill-fated Savings Bank. . The debate was adjourned.