N.S.W. POLITICS.

Wanganui Herald, Volume XXXXVI, Issue 13523, 3 November 1911, Page 5

N.S.W. POLITICS.

THE BUDGET. Proposed New Taxation. Press AssociationTelegraph.—Copyrigh t SYDNEY, November 2. In the Assembly the Hon. MoQowen, in delivering his Budget, said the chief feature was the proposed new taxation, whcreoy he expects to receive .£200,000 from probate and stamp duties and ,£775,000 from income tax. The total revenue last year was <£13,882,485, which was £475.224 in excess of the estimate. The expenditure was J14.470.687, or ,£169,000 in excess of the estimate. The year opened with a credit of £989,706, and closed with a credit of ,£401,505. The public debt is £95,523,945, the increase for the year being £2,998,830. The railways and tramways earned at the rate of £4 10s 3Jd per cent., the surplus, after paying expenses and interest, being ,£601,625 . The total trade of the State was £86,000,000, an increase of £6,000,000 on the previous year. The total production was £62,812,000. The wheat yield was 28,000,000 bushels. The estimated revenue for the current year, including the net taxation, is £15,846,085, and the expenditure is £15,822,844, ’ INTERESTING FIGURES. Eeceived November 3, 9.15 a.m. SYDNEY, November 3. Last year the State received £1,405,371 less from the Commonwealth than the preceding year, and from the sale of funded stock in Sydney £4,963.643. It is gratifying to know that the State is able to raise locally all money required, for loan works. The Harbour Trust showed record work. The western channel will soon have a minimum depth at low tide of 37ft, and it will then able the deeper draught vessels to navigate it in safety. Buildings are also easily a record, totalling £5,703,285,515. Notwithstanding the increase, the estate agents cannot meet the demands for houses. Prosperity is shown by the fact that of nearly 400,000 persons charged with water and drainage rates, only £7l is outstanding. Ihe balance at the credit of depositors in the Savings Bank shows an increase of over two millions, the largest increase in the history of the bank. The advances made io settlers are being promptly repaid. b The production of wool, wheat, and butter showed higher results than any. previous year, the sheep at the end of 1910 numbering 45£ millions. -Received November 3, 9.45 a.m. SYDNEY, November 3. The Budget shows the production of the primary industries to be as follows:—Pastoral £21,028,000, dairying £4,776,000 agricultural £9,489,000, mining £8,455.000’, forestry and fisheries £1,108,000, minor industries £2,119.000. The increased value of raw material in process of manufacture is £16.794.000. a total of £39 5s 7d per capita, compared with £24 8s 3d six years ago. The wheat yield was 28,000,000 bushels. Tlie quantity of butter manufactured amounted to 72,000,6251b—a record, of which 27,047,4811b were exported, valued at £1,223,518. For the first time in history they were going to take the • surpluses for Government business undertakings out of the revenue fund, and place them to the credit of the Public Works Fund to use for developing the country, and not for saving taxation. It was indicated that there, would be fresh taxation for the purpose, of establishing a sinking fund to pay the public debt, aa the Government did not believe in leaving all to posterity. ■ Mr Wade was glad to hear of the prosperity, but deprecated the increased taxation. Mr McQowen declined to give any particulars of the proposed increased taxation. The debate was adjourned.