AUSTRALIA: Eased

Best news in two years came to Australian citizens last week. Thanks to a balanced budget and drastic economy, the Treasury reported a surplus of £2,750,000 for the first four months of the current fiscal year. Promptly the Cabinet moved to reduce federal taxation by £1,600,000, including a one-third cut in the land tax, and a £500,000 reduction in the property tax. Set aside for Australian wheat farmers was £2,250.000 of which £1,250,000 will be spent to relieve actual distress, the rest to be a subsidy to help wheat...

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