FEDERAL BUDGET.
CABLE NEWS.
United Press Association—By Electrio Telegraph Copyright.
HE-PAYMENT TO STATES.
NEW PROPOSALS.
Received October 15, 9.47 a.m. MELBOURNE, October 15. Sir William Lyne, in his Budget Statement, said the amount re-paid to the States last year was £8,859,596, which was £1,080,000 above the estimate. In future the States would not receive a penny more than the statutory threefourths. Since federation they had received £6.059,000 in excess of the three-fourths. ■ The estimated revenue for the current year was £14,577,271. Customs and excise were expected tn yield £11,040,711, and the Post Office £3,483.000. The experditure was estimated at £6,513,579. The expenditure will be £1,102,681 (an increase of £18,176), this being exclusive of £250,000 for coastal and harbour defence. The amount to be returned to the States is £8,063,693, a decrease of £795,904. It was estimated that Federal oldage pensions would cost £1,225,000 per annum, the levy for the current year being £410,800. New proposals include a Federal Stamp-printing Office and Coinage Bills. The coinage of Australian silver and gold coin is expected to yield an annual profit'of £56,000. The issue of Commonwealth notes is also foreshadowed. Reierence is also made to the steady development of Papua.
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https://paperspast.natlib.govt.nz/newspapers/WAG19081016.2.15.18
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Wairarapa Age, Volume XXXI, Issue 3019, 16 October 1908, Page 5
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197FEDERAL BUDGET. Wairarapa Age, Volume XXXI, Issue 3019, 16 October 1908, Page 5
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