COST OF WAR

Bay of Plenty Beacon, Volume 4, Issue 179, 12 November 1941, Page 3

COST OF WAR

NEW ZEALAND'S SPENDING

MUCH MORE THAN 1914-/18

In the publication "New Zealand's War Effort," released by the Director of Publicity figures of war costs arc given to make interesting reading. The effort is described as follows: —.

The total cost in two years and a half of this war will be £104,000,000 compared with £23,000,000 in the first two years and a half of the last war. £104,000,000 means £63 for every man, woman and child in New Zealand, or £161 from every breadwinner The policy of the Government is toi pay for the war as we go, firstly

by taxation and secondly by borrowing the savings of the people in New Zealand. Borrowing overseas is kept at the lowest possible level. War taxation last year amounted to £15,745,000. Internal borrowing £12,164,000'. Accommodation from Great Britain for overseas costs since repaid £5,988,000. Sir Kingslcy Wood, Chancellor of the Exchequer, expressed sincere gratitude to the New Zealand Government for its arrangements, to pay off Britain's advances for the Dominion's war expenditure. The war cost this year will he financed as follows: — From revenue (including balances from previous year) £27,000,000. Internal borrowing £13,000,000. Accommodation from Great Britain £31,000,000. £71,000,000. Again it is the intention of the Government to repay to Great Britain as much as possible.