Mr, Scullin, as Treasurer, point at out the fact that the Ministry had been faced by financial depression which is unparalleled in the hi of the Commonwealth sine formation, Business undertakings instead of showing a surplus showed a loss of £125,683 owing to decreas of postal receipts and trance Australia railway earnings. Shoe! age of revenue was £1,542,697 for the year, Restriction of imports probably accounted for the £2,675,- 609 less in Customs and Excise than was estimated, But direct taxation Drought in £908,386 more than estimate to help offset this loss. The main contribution being from. income tax, £585,090. Departmental expenditures with associated services cost £940,759 less than anti" cipated, While the charges to be borne by the general revenue 1930- 1931 are expected to increase by 461,094,303 to a total of £05,610,770. Allowing for the increase of taxation and other revenue returns on the present basis the Ministry cannot see but that it will be faced with a shortage of 214,038,770. Tha chief causes being the decrease in Customs and excise returns,, de~ crease in direct taxation due to duction in taxable incomes, and a grant to the States for unemploy= ment relief. It is hoped that by covering these shortages of revenue even balance may be struck. As not unexpected, all trades' and industries dispute' their rights to exemption from inerense taxation. In all State capitals public meetings have been held to protest.
The Chief items being postage incres by wool and wheat men the im. porters increate of customs and excise, and last but not Toast the sales tax, Most cry comes from th employing classes, but the Prime ver, Mr, Scullin, as Treasure defends the proposals vigorously as needful and urgent.
Text read from the printed page and cleaned; old type leaves the occasional error.