SOUTH AFRICA'S FINANCE.

Taihape Daily Times, Volume XI, Issue 3477, 4 May 1920, Page 6

SOUTH AFRICA'S FINANCE.

STARTLING _TRADE' EXPANSION.

CAPETOWN, April 30.

Introducing the Budget in fhe Housel of Assembly, Sir H. W. Bultton,;Treasurcr, :~".‘.id that the revenue forAtlle.~cul'-* rent year was estimated at £2-3,‘750,000,. but it actually'renlised £26]/'50,000, an increase of 16 per cent. largeiy due /co! the ph-enomenai' rise in dianlonlds-.a_nd[s the heavy illCl’CilS€‘ill. the impomatiollvl of luxul'ie:‘s. The expenditure amiouunt-,, ed to £2~1,500,000, lerwiilg 3. sul'.p,'l’u:i:.o!f”A £%,'250,000, which’, according tQ'v.fl§3.\);.3 would be devoted to the I'edenlptfi_o'll,o,fr the debt. The Treasurer (lesleribeelr expension of trade as stal'.l;l!i§lg.: "'3, . Referring to the confing,;'fi,llancial year, he said, that. he est'ixklla'te'(l'hl:.}'le, revenue at £25,,00,0,0,e0} mid the ex‘-" penditure at £27,s;)_o,ooo,'_;.le;§ving #2:; surplus of a little over_ half a; million. Since 191; theeeét pf‘ pu_bl_ie serviAec‘§J had risen by fo',u'r.:md The post office was_not [):Lyi.n;'};Jit'.s.'

It was proposed to raise letter_post:_lge T from a penny a half ounce_'to ‘a’ penll3/_‘ Half-penny for 1-; ounces. 'l‘"he'_ t-ole‘-' graph rates would also l)e.ll_li‘;r‘e':ls’ed';' The revenue from these charges-ilwoiilkla iixcrease the‘sul'plus to £488;()0O. It."{§a§' proposed to apply this in roducihn-g‘ 'élif'l' ficulties for the poorer classes, and ‘the estimated surplus would disappear, leaving 3, deficit of ‘£37,000, xvhjchr would look after itself. 7., ;r~_r,-