On the revenue side it was estimated that Customs and Excise would produce £46,750,000, compared with £48,383,000. Traders were expecting no decline in business in the first six months of the financial year.
Legislation would be introduced to provide invalid and old"age pension reciprocity between Australia and New Zealand, and to amend the Commonwealth Bank Act in order to give effect to certain recommendations of the Royal Commission on Banking.
The only Customs amendment accompanying the Budget is an increase of 8d. a Ib. excise on tobacco, which it is estimated will produce £375,000 when taken into account with a reclassification of Customs duties, which will have the effect of increasing the minimum percentage of Australian leaf used in the manufacture of cigarettes, The increases Telephones 10952, 18418
Text read from the printed page and cleaned; old type leaves the occasional error.