Budget Surplus

The Treasury has issued a statement of conditions up to March 10 showing a surplus of -L-102,000,000, saved as a result of economies effected and considerable increase in revenue.

This year's income tax, one shilling in the pound less than in the previous year, has exceeded the estimate by -L-7,500,000.

With the end of the fiscal year on March 31, the press, while cautioning the people against undue optimism, holds out the hope of tax reductions in the new budget.