Hokitika Guardian and Evening Star WEDNESDAY AUGUST 29th., 1917.“ PARLIAMENTARY DOINGS.

Hokitika Guardian, 29 August 1917, Page 2

Hokitika Guardian and Evening Star WEDNESDAY AUGUST 29th., 1917.“ PARLIAMENTARY DOINGS.

The Budget debate was a long drawn out affair which could hardly have served any good purpose except as a vehicle to ventilate grievances and on the whole to shower a pean of praise on the Minister of Finance for the manner in which he had dealt with the financial- problems of the moment. In the ventilation of grievances there was much candid criticism of the National Government. Its shortcomings are many, some notorious - but oven if it be a round peg in a square hole for the time being, it is at least something of a stop gap, and there is not any possible association of parties at present in.the> House to take its place. This was practically the spoken conclusion arrived at by the debate, and the same impression seems to run through the country. Although the debate was essentially of ; a financial nature, the speakers roamed all over the field of polities. Matters were touched upon which might have been deferred to a more convenient season, in view of the hugeness of the financial proposals. But some deep criticism was indulged in, and the incidence of taxation was very fully discussed by a section of the speakers. This was notably the case by Sir John Findlay who probed matters relating to finance in a manner frtr below the surface, and supplied a very thoughtful line of critic* ism. On the whole the Budget was received with very cordial speeches. As Sir Joseph Ward remarked, “despite reasonable grounds difference of , opinion on many of the proposals in the Budget only a few had been criticised.” Certainly very great kudos was given Sir Joseph Ward for the ability displayed in formulating his financial proposals. His dofonce of the items criticised, was also very ample, indicating that all sides of the complex issues liad been fully weighed and that in respect to each and every radical stop ho proposed there was behind it a backing of solid reason. Sir Joseph Ward has made it plain that this years’ Budget proposals do not exhaust the avonues of taxation. These may have to be touched upon yet before the war was over to provide adequate means to prosecute the war to a final victory. This is further evidence of that strength of finance which was the prominent feature of Sir Joseph’s administration when ho was directing the affairs of the country under tho Liberal regime. The Budget proposals the Minister of Finance explained were taking six millions from the people by means of taxation, 'lliere had never been anything liko it, but it was necessary to build up a groat reserve. We would soon have ten millions in this fund, he said, which, if it is not used for War purposes, could later on be used for the reduction of war loans. So far as he knew, New Zealand was tho only country that was piling up such a' reserve and ho rejoiced to see such a magnificent response to the call thus made upon tho taxpayers. Many, he know, were even borrowing to pay their taxes this year, without squealing, hut this fact pointed out to the care necessary not to ruin -anyone by taxation. There would be proposals to relievo small shareholders in companies in the Taxing Bill. Referring to the War Loan, Sir Joseph declared that unless tho lqan was raised at 4£ per cent freo of income tax, it would havo to be floated at 61, and the effect unquestionably would be that the rates of interest would have to be raised by all lending institutions, including the advances to settlers’ office, and that would not he desirable. It is clear from these statements that the Rt. Hon. Minister has ■ the closest grip of the finances and in these troublous times hie administration con be fully trusted.