THE BUDGET

Dominion, Volume 8, Issue 2548, 24 August 1915, Page 6

THE BUDGET

* EXPECTED ON THURSDAY WHAT IT MAY CONTAIN ' The Budget mil not come .down tonight as was expected. • Cabinet sali yesterday afternoon and evening to revise the Statement, and after the meet* ing the Primo Minister said that tha revision had been practically complete cd. He thought the Budget would be presented oil Thursday night.In reply to m inquiry on the sublet Mr. Massey said that the Budget! would outline the taxation proposals of the Government. It would not give all the details, but would set forth the amount to be collected under the different classes of new taxes. <t would also refer to the public works loan, stating the amount to be raised. Mr. Massey declined to say whether the Budget would state whether the loan or any part of it would be raked looally. On this point it is an open, secret that at least some of the loan is'to be raised locally—perhaps all of it. No; indication has been given as to the pro-' bable amount of the loan. The only; guide to intelligent speculation is the Jjoan Bill of last year, by which authority was taken to raise three sterling. This amount inftluded,- however, an item,of one million for a spe-cial-object, the making of back-blocks roads. Owing to the war and the fi- : tiaucial stringency consequent upon it' this special authority was not exercised. The other items in the Loan-Bill of last year were as followßailway construction, £600,000; additions toopen lilies, £500,000; roads and bridges. £500,000; other public works. £400,000; making a total of two millions. The Public Works Minister has' already, stated that he Las in his Public Works ■ Statement and Estimates asked' Parliament to. give him authority to spend; moneys, assuming moneys to be avail-. able. Following the came policy,- tha Government may ask Parliament for authority to raise a loan adequate to carry out a fairly full programme of works, leaving to to the discretion of the. Government to decide whether tha times and the market are such as to warrant New Zealand in borrowing a : largo sum. Tlio taxation proposals will interest#.' a great many more peoplo .than tba loan. . One suggestion- made is that thei exemption limit for income tax may ba .reduced below £300 per annum, but tha' .' only information available on this-sub-' • ject goes to show that, the'guefes is • wrong. The limit will stand'at ; There will probably be an increased tas : . on beer, increased .excise tax/-and ini creased Customs tax, but rio increased v ; tariff on spirits'. It is also generally, . understood that there will be an increased tas on totalisator "inyastments." It is highly improbable that . the Government will adopt the heretical ; proposal put forward by some that exports should be taxed as the test' means of taxing war profits. 1