SOUTH AFRICAN BUDGET.

Taranaki Daily News, 8 May 1922, Page 5

SOUTH AFRICAN BUDGET.

DEFICIT LESS THAN EXPECTED. NEW DUTIES. * By Telegraph.—Press Assn.—Copyright. Received May fl, 5.5 p.m. Capetown, May 6. In the course of his Budget speech, the Minister for Finance showed the estimated. expenditure as 28% millions, a decrease of 1»J millions as compared with the previous year. The accumulated deficit at the end of March was 1% millions, which is better than was anticipated. He proposed to carry the deficit forward. The deficit for the new financial year, it was anticipated, would be £BOO,OOO. He did not propose to interfere with the public service salaries, but a thorough reorganisation was necessary. The Government would increase taxation as little as possible. Adjustments would be made in the tobacco and cigarette duties. < The Post Office finances were improving, and, if this continued, one of the first measures would be a return to penny postage. It was intended to reimpose the original duty of 25 per cent, on blankets, rugs, and certain other articles of material. Union industries would be placed on the free list. It was also intended to introduce the long-overdue reform ot uniform taxation in respect to estate duties, coupled with succession duties, the former ranging from 1 per cent, on estates of £2OOO, to 16 per cent, on estates of threequarters of a million, the latter from 2 per cent, to 10 per to the degree of The final estimated deficit is £4OO,UUU. —Aus.-N.Z. Cable Assn.