LANG’S LEGACY
N.S.W. REAPS HARVEST OF DEFICITS TEN MILLION NEEDED By Cable.—Press Association. — Copyright. } Reed. 9.35 a.m. SYDNEY, To-day. j The new Government utters a warning regarding a probable heavy deficit in the coming year, owing to the reckless expenditure during Mr. J. T. La’hg’s term of office, also pointing out the necessity for borrowing £10,000.000 to carry out public works now in progress. An increase in railway fares and freights is also foreshadowed to meet the big deficit in the railway revenue. The Auditor-General’s report for the year ended June 30 last shows the total public debt on the capital account was £239,952,065, an increase for the year. Under various heads the increases were:—Funded debt, £17,931,431; public debt proper, £12,312,238; total public debt on capital account, £11,502,805. In the last 15 years the funded debt has increased from £100,000,000 to £227,000,000, an increase of 128 per cent. The total interest payable thereon has advanced by almost 125 per cent. —A. and N.Z.
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Bibliographic details
Sun (Auckland), Volume I, Issue 184, 25 October 1927, Page 1
Word Count
163LANG’S LEGACY Sun (Auckland), Volume I, Issue 184, 25 October 1927, Page 1
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