WELLINGTON TOPICS

Hokitika Guardian, 29 July 1925, Page 4

WELLINGTON TOPICS

THE BUDGET

CONTI XU ANTE of THE MASSEY POLICY. (Special to “Guardi-.n”.) AVELLIXGTOX, July 27.

.Since John Ihillnnee had charge id \,.„ Zealand's TrcaMiry im Minister of Finance in Ll l icountry has hccn a master of the art id' reading. Sir Joseph Ward. Mr Seddoii, Sir James Allen and .Mi’ -Massey all left somethin;.; to he desired in this direction. By comparison will) any o! these .Ministers in this respect the Hon W. Nosuorihy suffered nothing on Friday evening when lie held the attention of the House, more or less, tor over an hour and a half in reading the first Budget of the new Ministry. The Budget in its composition hears a close resemblance to the GovernorGeneral’s speech. .Vs the CoveruorGencral's speech mainly is composed In- the .Ministers of the Crown, so iIhe Budget, almost entirely drafted by the more responsible officers of the Trea.-urv. The Governor-General may introduce a personal note into the speech and the Minister ol financemay give a party turn to the Budget : hut the sum and substance ot both documents are the work of others than those to whom their delivery is entrusted. This being the ease, Air Nosworlhy is entitled to all the more credit lor having got through his task without tripping over any ol the masses of figures and abstruse deductions with which his path was strewn. lilt; FI CUBES. In these days the detailed Budget pusses into history and obscurity in a single week-end; but -Mr Xosworthy himself emphasised certain outstanding items which ought to he impressed upon the public mind. The national debt on March .’ll last had reached the enormous sum ol L227.H1-I,fill, made up, as the Minister explained, of ordinary debt, l’l Ift.flJfi.S.Jf); war LTliJidl.722; State Advances C-I, h‘i!),lSf) and discharged soldier settlement .29,809,BS(i. The sinking funds accrued amounted to Clff, 162,839, reducing t he' net debt to 221-1,851 .SOS, and no doubt the Minister's statement is torrent, hut somehow the accrued sinking hinds seem to arrest neither the annual increase in the volume ol the net debt nor the annual increase in the payment of interest. There is no need l ; f|tlestion the accuracy of the accounts; hut there appears to he crying tired for a plainer statement of the figures. Not that Mr Xosworthy has sinned in this direction more tlugraiitly than did his predecessors. On the contrary, he seems to have made an effort to present the facts plainly and concisely mi l his failure to achieve a larger measure of success may he due to his inability in a brief' two months to repair a system of booking-keeping which ignore; the limitations of the average layman A CO.MMOX~-HE.VSE SUGGESTION. Air Xoswori lie's common-sense suggestion that in future the Budget, instead of being read by tlie Ministers ol Finance as speedily as possible to a House, which for the most part makes no attempt to follow its details, should tie laid on the table, ns the reports of other Dcnnriments are. and members left, to studv iL at their leisure, should meet with the hearty approval of everyone concerned. The advantage of its acceptance would lie not only in l.ie time saved hut members would be compelled to read and study the document for themselves with a much heifer chance of understanding its contents than tlicv have at present. Electors who took auv interest in the subjects discussed would he as ready to speak upon them as would their repr - seututivex in Parliament, and would find opportunities to make their voices heard. A few years ago, because it had been the custom lor live or six decades, the Public Work- Statement was read to the House, with all 111" ceremoiiv and inconvenience and wast > oi linn- still associated with the read ing of the Budget. Now it is simply laid c.n the table and the House and the country are both better for the change. With the Budget dealt wit 1 1 in the -mine way the excision ol siou • ol 1 or superfluous cereie.minis might profitably follow.

TRIBUTE TO AIR MASSEY. The tribute Mr Xosworthy paid la his dead chief in introducing the Bud get came naturally enough from ~ faithful colleague. "It is mainly dm to the sound administration of the late Air Massey,” the Minister of l-'mance said. " that the present excellent position has been attained. Mr .Massey had in. the post-war years the onerous task of bringing about a considerald-i.-.luction in expenditure, and, despite adverse pressure and risk ol unpopularity, he consistently held to the policy that has so improved this Dominion financially as compared with anv other

cmmtry in the world affected !>y Id:.' wiir. This result was achieved, moreover. while substantial remission in Luxation and charges were granted of the annual value of L"'..7d0,0;)(1.” All this is permi-saMe in the circumstances. The somewhat involved suggosi'ion that New Zealand has recovered more quickie I ban any other country has from the id'termath of the war, however, is scarcely justified hv the facts. It is true that two or three wars ago Mr Ma-sey elleeted substantial economies in public expenditure, taking the risk of the unpopularity it entailed, hut his greatest service to the public at that time was in lessening the taxation and charges which were threatening to cripple the taxation and charges of the Dominion. Here he played boldly the pari of a statesman, but be lonnd the. role of economist a much harder one to maintain.