MAD SPENDING.

Hokitika Guardian, 19 July 1921, Page 4

MAD SPENDING.

NEW SOUTH WALKS FINANCES

SYDNEY, July G. A year of what Mr Oakes, the deprtv leader of tlm Opposition in New South Wales, condemns as “mad spending.” has left the State with * deficit on the national ledger of about half a million on a. revenue for the financial year which was over five million more than that for the previou. financial year. That means that there is now an accumulated deficit of about two and a quarter millions, apart from mu incubus of loan debts of a magnitude which we try to forget. The fact, that the* income tax yielded considerably more than the Treasurer bad estimated, alone prevented tin*' position from being still worse. As a matter of fact, an cut loans, Mr Oakes reminds ifs. like Job's comforters, that the figures announced do not disclose the loan expenditure for the year, and he adds that some idea of the profligate way in which money has been spent under this heading is shown by tin* fact that for the seven months ended in January Inst the T/ihour Government disposed of nearly nine million pounds, whereas over a similar period under the previous National GovernI ment the amount was only just-' over I five millions. Air Oakes goes on to i enumerate a. variety of commitments, j such as -motherhood endowment aim j wheat compensation and the added ox. pendi tune, amounting to at Last £1,000,000 which will be entailed by the 44-hour week and the extensive elimination of Saturday work in the | Government service, as evidence that a severe restriction of Government spending alone can avert a financial debacle. These figures and the deductions therefrom may he a little confusing to the average mail in the. street, but out of it all be ran discern but little evidence of that consideration for bis pocket which was displayed by Labour on the hustings.