VICTORIAN AND TASMANIAN BUDGET.

Temuka Leader, Issue 2532, 22 July 1893, Page 1

VICTORIAN AND TASMANIAN BUDGET.

Melbourne, July 19. Mr E. Downes Carter, Colonial Treasurer, in his Budget attributes the depression to the lowness of the price of staple products. The revenue for the past year was £6,903,000, of which £738,000 had been raised by means of Treasury} Bills, and the expenditure had been £8,183,000. The revenue for the ensuing year was estimated at £7,823,000. Retrenchment is to be carried on with a firm hand. Fresh taxation was rendered necessary and an income tax similar to that in New Zealand would be imposed ; also £3 primage duty on goods under 25 per cent, ad valorem. In concluding the Colonial Treasurer stated that he was convinced that the colony would soon rebound into its former condition. ppUAnx, duly 19. Parliament has opened. The Speech from the Throne was colourless, It was announced that a Bill would be introduced in the Legislative Assembly, increasing the duty on tea to 6d per lb., and on sugar to 9d per cwt. In the Council Mr Douglas stated that the deficiency was very large, tpid would have to be met by income, probate, and land taxes, The Hon. P. Q. Fysh declared that if the reyeupe continued as at present there would bo a 4 e tl c i ei f c y £400,000 at the end of the year.