1 OCTOBER 1927, Page 2

The first session of the Australian Federal Parliament at Canberra

has opened hopefully with the announce- ment of a surplus of £2,635,000. Income Tax is to be reduced by 10 per cent. and Land Tax by 10 per cent. The Joint Committee on Public Accounts` recommends that the Commonwealth Line of steamers, on which there has been a heavy loss, should cease to be a State enterprise.

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