A CHANGING SCENE

Evening Post, Volume CXII, Issue 85, 7 October 1931, Page 4

A CHANGING SCENE

FUfiTHER REVIEW POSSIBLE

PROPOSALS^SUMMARISED

Mr. Stewart said that the provisions for economies, support from reserves, and taxation (all additional to the main Budget), which he had outlined, should, if realised, strengthen the Budget to the extent of about £1,250,000. But it should be olearly realised that the scene was changing daily, and estimates could not be relied on in any degree. It is our duty, he said, to do our utmost to check tho drift in our public finances. 'But the ground is shifting from under us" every day, and the position may be required to be reviewed .again before the. end of the financial year. The proposals to meet the additional burden of £1,595,000 are therefore as follows: — \ .p

Economies 400,000 Reserves 350,000 Customs k taxation 240,000 [ncome-tax — £ To cover land-tax adjustment ... 320,000 Additional 230,000 550,000 Reduction in amount provided in main Budget for sup- , piemen tary estimates and contingencies 55,000 £1,595,000 ESTIMATES RECAST. With the adjustments outlined, the revenue estimates, for the year shown in the main Budget at £24,946,000 must now be recast as follows:— . ' & Customs 6,750,000 Beer duty > 650,060 Film-hire tax 50,000 Motor vehicles—duties and licences 1,760,000' Stan.? and death duties 2,990,000 Land-tax -,r:.r;:..i'.'...:.' 625,000 Income-tax' ,.', 4,935,000 Interest receipts— £ Railway capital 930,000 Post Office" ... 535,000 Public moneys . 745,000 Public Debt Redemption Fund 720,000 1 -. —— 2,930,000 Miscellaneous—" Post Office surplus " ,.. 1,090,000 From reserves 1,490,000 Other 3,396,000 . 3,976,000 £24,666,000 The estimated' expenditure 'of £24,763,781, as shown in the main Budget, will be increased by £100,000 for fertilisers and £75,000 for subsidies to hospital boards,'and, on 1 the other hand, reduced by £400,000 on account of economies, so that the Budget position for the year, is now estimated to be as follows: — ■ ' .'■£■■■ Revenue 24,666,000 Expenditure .... 24,540,000 v Leaving .......... . 126,000 to provide for supplementary estimates and contingencies.