FINANCIAL CRISIS.
THREE MONTHS’ REVENUE.
DEFICIT OF £3,000,000 SHOWN. FAILURE OF SALES TAX. United Press Assn.—Elec. TeL Copyright. CANBERRA, Oot. 1. The Commonwealth Government’s revenue returns for the first three months of the financial year already show a deficit of £3,000,000. This fact is causing the Cabinet the greatest concern. The loss in customs revenue is at a rate of practically £10,000,000 a year. The postal revenue is £421,686 below the estimate-. SYDNEY, Oct. 1. The sales tax returns for September —the first full month in which this form of taxation has been in operation—reveal that whereas the Government anticipated £500,000, th# actual revenue was only £280,476.-
LATER. BALANCING THE LEDGER. NO DEFINITE DECISIONS. DECLINE IN STATE REVENUE. United Press Assn. —Elec. Tel. Copyright. (Received October 2, 10.15 a.m.) CANBERRA, October 2. Consideration of the financial position and proposals for balancing the Budget have been commenced by the Cabinet. No definite decisions have been reached. ■ The State revenue returns for September in Victoria, South Australia, Western Australia, and Queensland show further large decreases compared , with the corresponding month last year.
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Bibliographic details
Waikato Times, Volume 108, Issue 18139, 2 October 1930, Page 7
Word Count
180FINANCIAL CRISIS. Waikato Times, Volume 108, Issue 18139, 2 October 1930, Page 7
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