SUBSTANTIAL SURPLUS
SOUTH AFRICAN BUDGET. By Telegraph—Press Association—Copyright. (Received This Day, 12.45 p.m.) CAPE TOWN. March 18. Mr Havengas. in his sixteenth consecutive Budget, estimates revenue at £43,780,000 and expenditure al £42,130,000. He is applying a major part of the surplus to rearmament. The chief proposals include £300,000 for defence, to supplement loan expenditure of £800,000; a railway subsidy to, enable a reduction in freight on farm produce and fertilisers and £600,000 for an income tax rebate, which is increasing from twenty to thirty per cent.
Next year’s estimates are: Revenue, £44,660,000; expenditure, £44,860,000.
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Wairarapa Times-Age, 16 March 1939, Page 8
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94SUBSTANTIAL SURPLUS Wairarapa Times-Age, 16 March 1939, Page 8
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