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Thursday, 11 November 1948

Mr CHIFLEY - The Estimates of receipts and expenditure for the first four months of the current financial year are not set out in the budget statement which L presented to the House. That document covers the estimated revenue and expenditure for the whole of the financial year, and receipts for the first four months of that, period must not be taken as a guide to what will be the position at the end of the financial, year. Whilst I hope that. the revenue will continue to be buoyant,, I cannot be certain that it will be. At the moment, considerable revenue is being received from taxation, but the present rate of receipts may or may not continue during the remainder of the financial year. The right honorable gentleman has also asked whether I shall review direct and indirect taxes in order to ascertain whether any justification exists for reducing, them. One of the promises that I made during the las: election campaign-:-

Mr Fadden - The- Treasurer did not carry out that promise.

Mr CHIFLEY - I promised that from time to time, direct and indirect taxes would be reviewed.. In fact, 3 said that the review would, be made from month to month.

Mk. Fadden. - All that the right honorable gentleman has- done has been, to examine, the. position.

Mr CHIFLEY - I recall that thiright honorable member for North Sydney made- a public- comment on the fact that I was showing- such solicitude for taxpayers. The Government reviews the financial position from month to month and from quarter to quarter.. During the last election campaign, 1 promised that taxes would be reduced when the financial position, warranted that action. My promise still stands.

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