N.S.W. PARLIAMENT.

Taranaki Daily News, Volume L, Issue 61, 1 November 1907, Page 3

N.S.W. PARLIAMENT.

A SATISFACTORY BUDGET. Sydney, October 31. The Budget's statement of the closer settlement fund showed receipts to 30th (June totalling £184,490, expenditure .£236,234, loan expenditure £1,233,000 tke lowest for ten years. Under the income-tax exemption 21,000 are freed from taxation amounting in the aggregate io £83,000. Stamp duties are to be abolished from Ist January next, involving a further reduction in revenue of £65,000. The total revenue remitted this year is 1£660j000, and next year the amount grill be larger. A ram of £60,000 is set aside for increases in teachers' salaries and £BO,OOO for new schools.

Railways and tramways yielded a net letam of £4 19s 4d per cent, on the Capital invested. The estimates for the current year are framed in view of the effect a drought may have on the financial position. The estimated revenue is £12,799,945, expenditure £11,949,048, surplus to which has to be added the credit from last year, making the aggregated surplus £1,863,831. loan expenditure is confined to reprodnetrre works, and will be limited to •boot £2,200,000. The Hon. Mr. Waddell announced that tke Government would pursue a vigorous yofiey of opening land for settlement. Mr. McCowen declared the Labor Party would oppose the remission of taxation, because it did not tend to lighten the burden of Jhe poor man.