AUSTRALIAN FINANCE.

Rangitikei Advocate and Manawatu Argus, Volume XXXIV, Issue 9160, 1 June 1908, Page 5

AUSTRALIAN FINANCE.

A DEFICIT EXPECTED. United Press Association. —By Blec- .. trio Telegraph.—Copyright. Melbourne, May 31. Sir William Lyna bas withdrawn the notices withholding the payment of revenue balances to the States for the month of May. Mr Bent has delivered a policy speech. Owing to the drought the revenue has fallen off greatly during the past two months, and will continue to do so for some time. It is estimated that the year will end with'a deficit of £14.0,000. TOO LITTLE PROTECTION. Received June 1, 9.55 a.m. Melbourne, Junel. Sir W. Lyne is dissatisfied with the tariff as passed. He considers the protectionist basis too low, and intends to fight for a higher tariff. MR BENT’S '^POLICY. Mr Bent in his policy speech said the time had arrived for the imposition of taxation to owners to put land to its proper use. He intended to submit a Land Valuation Bill to provide for a graduated laud tax, and against the aggregated of large estates. He foreshadowed railway extension to open up the country, while water conservation schemes now in'hand would provide forf’aa additional population of at least 400,000.