AUSTRALIA
From Times Staff and Wire Reports
Corporate Taxes Easing Deficit: Treasurer John Dawkins confirmed reports that the federal budget deficit for the fiscal year ending June 30 will be narrower than midyear estimates because of higher-than-expected corporate tax revenue. But even the revised estimate will represent a record deficit, widened from $6.3 billion a year earlier. Dawkins said it will be closer to last year’s estimate of $9 billion than was predicted. In January, the government revised that estimate to $10.7 billion.
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