THE FEDERAL BUDGET.
SEYEK MILLIONS RETUBMED 10 THE # STATES. (Received Aug. 22, 5.23 p.m.) MELBOURNE, Aug. 3a. The Federal Treasurer delivered his Budget this afternoon, showing that revenue amounted to £11,4«0,(KH1. Customs and Excise yielded £IBO,OOO above the estimates, and tbe Post Office £70,000 more. The total revenae exceeded the estimate by £72,000. Stimulants and narcotics yielded £4,281,000 (V). The actual expenditure amounted to £4,318,000, being £114,000 below the estimate. The estimated revenue lor the current year was £11,387,000 and expenditure £4,606,000. The cost of federation last year was Is i6Jd per head, and the estimate next year Is 5Jd. Revenue returned to tbe various States amountid to £7,141,000, and the estimated ictum for this year is £6,783,000.
GOVERNMENT POLICY 0UTIMB; Defence Hitters Prominent Tbe Beokkeeping System, (Received Aug. 23, 0.57 a.m.) ■. MELBOURNE, Aug. 22. In the Budget the Treasurer (Sir John Forrest) announced that it was intended to extend the sugar bonus another five years from the end of the present term on the existing conditions ; excise would also be extended ; as regard' the "Braddon" clause (relating to the keeping of separate accounts -for- - each State), unless some arrangement waa made for a fixed amount to be returned to toe different States, there was no help for it but to' continue the book-keep-ing system till the end of the Braddon section; as to the States' proposal to borrow, only through the Federal Government, that would lead to interminable trouble,
The estimated naval and military, expenditure was £824,000, including £200,000 as a lull year's contribution to the Australian squadron ; the defence forces generally were engaging the serious attention of the Government,, and a very much larger amount was required to place the forces in a thoroughly efficient condition. The Government was fully alive to the position, and proposed to spend £40,000 on new drill halls and rifle ranges (by the end'of next year. The land forces were to be placed on & complete war footing,
Sir Jolm added that when Australia was willing to pay, she would be given a voice in Imperial defence af-
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Taranaki Daily News, Volume XLVII, Issue 7906, 23 August 1905, Page 2
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344THE FEDERAL BUDGET. Taranaki Daily News, Volume XLVII, Issue 7906, 23 August 1905, Page 2
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