FEDERAL POLITICS

Wairarapa Age, Volume XXXII, Issue 10684, 2 August 1912, Page 5

FEDERAL POLITICS

CABLE NEWS

(United Press Association— By Elective Telegraph —Copyright.)

I THE COMMONWEALTH BUDGET A SURPLUS SHOWN. ■(.Received Last .Night, 9.20 o,'clock.) MELBOURNE, August 1. liv the Federal Hoiu'e of Assembly, the Hon. Andrew Fisher, Prime Minister, delivered his Budgc'.t. The revalue for the year ended June 30th was shown! to he £20,.>16,361. Customs duties yielded £14,710,199, an '.iiieveiaee of £1,720,705; Post Offices, £3,'916,599, an increase of £46,599; laird tax, £1,366,454, a decrease of ••£acs9l, and profits from coinage £154489, a decrease of £42,404. The expenditure totalled £20,121,995, leaving iaSrplus of £424, 366, which 1 will be credited to the-' Australian tleet a:ncf» old .age pensions' fund, making the total paid therfito (representing .the surplus of previous years), £2,261,541. The amc;uiilts repaid to thei Staltes during the year totalled £5,944,425. The estimated 'revenue I 'for the current yei.iv is £20,422,000, 'and the expenditure £22,683,541, >inolud.'ing £5,903,740 rotuniahle to the States, £175,1)00 under the naval agreement, antl £3,985,921 for New works and buildings., Thte Hon. Mr Fisher indie,:i!ted that prov'sxon would ibe made for a large '.idirease iin 'the staff audi facilities of tJie Postal' Deparuii/dat, including tenwireless stations. The defence estimates provide for the €istiM:sihme.nt of an Aviation School far the tracing of officers. iFoui* machines have al--ready he on purchased. ITliie naval expend!:,ture is'incresed by £370,407, covering the provision in a year of seagoing crews for the smaJJer war vessels, fcr the gwrrboats in four months, and for : tlie " riew cruisers when! • commissioned. The military expenuifure is increased "by £369,000, 'die. universal training- system nece&sfcfcatkg largle additional inribructiorial start's, arms, and. general equipment, and reorganisation' in certain departments. The naval subsidy to T>ri.iai'il is. reduced from ' £200,000 to £175,000, owing to the Commonwealth tak.'n.g over tie warship Encounter. The estimated expenditure iincludes £J04,401 for the 'Port Augusta railway. '