HUGE BUDGET DEFICIT
FORECAST FOR VICTORIA Rec. 8 p.m. MELBOURNE, Dec. 10. A deficit of £1,235,000, the largest since 1931-32, is forecast in the Budget, which the Premier, Mr T. T. Hollway, has introduced in the Victorian Legislative Assembly. He said that Victoria was not receiving adequate reimbursement from the Commonwealth under the uniform tax
plan, but that his Government was not prepared to curtail legitimate expenditure merely to present a balanced Budget. ■ The Commonwewalth had refused to increase the tax reimbursement payment to Victoria beyond the totally inadequate amount of £1,107,000. The State Government would take every possible action to have restored to Victoria the right to levy income tax, and meanwhile would seek a further increase in the tax reimbursement payment.
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Otago Daily Times, Issue 26641, 11 December 1947, Page 7
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123HUGE BUDGET DEFICIT Otago Daily Times, Issue 26641, 11 December 1947, Page 7
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