N.S.W. BUDGET

Hokitika Guardian, 29 September 1933, Page 5

N.S.W. BUDGET

REDUCED TAXATION DEFICIT OF 3| MILLIONS. (Australian Press Association). (Received this day at 10.17 a.m.) SYDNEY, September 29 Delivering die budget in the Assembly last might, the Premier and Treasurer, Mr Steven-s, announced the Government’s intention to effect reductions in income tax, unemployment relief tax, child endowment taxation, and also reductions in first ,a n d second class rail fares, aggregating three million pounds. /Income tax in regard to personal exertion property, will be reduced by ten per cent., companies benefiting to the same extent. Concessions equivalent to £875,000 were granted in unemployed irelief taxation. Leaver paid wage earners were receiving t-he most -benefit. Thi s lbegin s on December Ist. The- basis of the unemployment relief scheme will be so- (altered that work will be provided for an -additional forty or fifty thousand persons. The receipts for the current year are expected to be< £42,333,546, and expenditure £45,934,567 leaving -a deficit of £3,601,021 ‘at the- end of next financial year. Mr Sevens said the deficit for the year just ended wag £3,758,839, compared with £14,227,845 when Mr Lang left office. He emphasised the State’s financial -position was now sound and the revenue was recovering rapidly, while unemployment had been reduced 42 per cent.