New South Wales Shows Big Fiscal Surplus secu 10 tne "ie, neo"
The Premier's Budget In New South Wales for 1938-37 showed a surplus for he first time for ten years, The fnan= lal statement is very encouraging.
'A surplus of £9309 is estimates for 1037-28 afler providing: for:—£2,150- }o00 for "restoration of salaries and fbaste wage. increases; £104,000 ad Jditional payment to the sinking func £1,108,23 for new and. additional services; £1,700,000 general reduction jin wages tax and special income tax; '£00,000 for full restoration of widows? pensions, 'The city and suburban councils' contribution of £62,000 to the Sydney Harbour Bridge fund will be cancelled, as the bridge revenue is showing a surplus of more than this "Among the new and additional services will, be—
_Megle service, aitonat tk and "tomes for unemployed, "£10000, Indastal™ fairing for inempoyed eliot work, £120000, Relief works from revenue, £1.000,050, eto anniversary esicbrations, 00
The reduction and readjustment of wages tax and special income tax, Mr. [Stevens said, will exer }300,000 people who are at present paying these taxes, Including all persons with less than £3 a week, many whose incomes average less than £8 a week and who have family responsibilities, and old people who have small incomes from pensions. /The reduction wilt be graduated.
all, the emergency taxation will bbe reduced about 85 per cent.
"The State, railways, tramways and buses and ' Sydney 'Harbour Trust showed surpluses aggregating £7.83 425, Concessions are made in railway {fares and freights amounting {0 a million pounds, 'The net increase in the public debt during 1930-37 was as compared with a previous six years' average of 2 294,000 a year.
Text read from the printed page and cleaned; old type leaves the occasional error.