COMMONWEALTH POLITICS.

Gisborne Times, Volume XXVII, Issue 2579, 13 August 1909, Page 5

COMMONWEALTH POLITICS.

CABLE NEWS.

THE FEDERAL BUDGET.

ESTIAIATED DEFICIENCY £1,200,000

United Pukss Association—Copyright

(Received August 12, 9.15 p.m.) MELBOURNE, August 12.

Sir .John Forrest, Commonwealth Treasurer, delivered the Federal Budget to-day. The total revenue for the year is £14,349,835,’ a decrease of £671,890. Customs and excise yielded £10,843,985, a decrease of £801,367; the Post Office yielded £3,409,000, an increase of £108,911. The expenditure was £6,419,364, and the balance handed back to the States £8,930,471. For the current year the revenue is estimated at £14,555,000. Customs and excise receipts are; set down at £10,800,000, and Post Office £3,550,000. The estimated expenditure is £7,867,621, and the amount to be handed to the States £7,891,480. These figures show an estimated shortage for the current year of £1,200,000. The Government propose to ask Parliamentary authority to raise this amount by the issue of short-dated Treasury bonds, spread over four years, commencing in 1912. It is considered that the estimated deficit is merely a temporary shortage of funds.

THE: DEFENCE ESTIMATES

UNIVERSAL MILITARY TRAINING

•' OF YOUTHS. (Received August 12, 10.20 p.m.) The defence estimates for the current year total £1,585,000, an increase of £624,000. The principal increases are £12,000 for a cordite factory, £42,000 for a small-arms factory, and £52,536 for guns, mountings, and ammunition.

Sir John Forrest stated that the Defence Bill would provide for the physical training of all school boys from the age of 12 to 14 years, and of lads from 14 to manhood, in elementary military training.

WIRELESS TELEGRAPHY.

£IO,OOO FOR EXTENSIONS

In connection with wireless telegraphy it is proposed to make £IO,OOO available for- connecting up the Pacific Islands. Over half-a-million will be provided for new telegraphs and telephones, and a similar sum in the two following years, at the end of which it is expected that the service will be in thorough order.

OLD AGE PENSIONS. A MILLION AND A-HALF STERLING TO BE ALLOCATED.

The amount available for old age pensions is £1,560,000. For the current year it is expected that this will he sufficient, but in future a quarter of a million more will be required. Anomalies in the Customs tariff are to he considered.

Sir John Forrest declared that but for the near approach of the end of the Braddon clause, to decide upon new ■taxation would be imperative.

AUSTRALIAN PREMIERS’ CONFERENCE. TO MEET TO-DAY. Th© Premier’s Conference meets at Melbourne to-morrow. The chief subject of discussion will be the financial relations of the States and the Commonwealth.

THE FEDERAL PREMIER’S SPEECH. HIS CONFIDENCE IN AUSTRALIA’S POSITION. (Received August 13, 1 a.m.) Sir John Forrest threw out a suggestion that the States should refund £6,059,000 they received during seven years over the statutory three-fourths they were entitled to, and strongly commended the offer of a Dreadnought or an equivalent. Dealing t with the question of where the money was coming from, he declared that the revenue of Australia was all available for such, demands, and sufficient for this and all other claims arising. Further, members would he fully informed of the means to be adopted to provide additional funds for any purpose.