FINDING THE MONEY

Hokitika Guardian, 19 June 1930, Page 3

FINDING THE MONEY

ADV'iCJi 'EOlt ’ML EOIMIES/ ..v b-joj. : • ' C' "♦ ' NEW PCVMOUTf I;Jufte' ll: : .’.AcviiYiiuPatAiflhVurpl tf lies E aim ;: ‘profits from' Giivonimeht ■'trihlinE-'shoi’il'd he' cynsidei't’d ; ah ngn'insCthe “Budget”-'i!e-licit, declared'EM r' ! C.’ A; Willed l-soh.' >I.P.' i! fof Egmditt, when' 'iVddrdss.itig ;p.iy dating of 'electors'last night. The' .deficit he eoludUered to be not a' .very’ ..serious matter ’and iiioi'e appaiWi't tban real . ...

The deficit of £577,000 should he weighed against the accumulated surpluses of 21- millions, said Mr Wilkinson. The Post Office account provided a surplus of £951,000 for the year, and only £428,000 of that. sum !iad been on id into the general account, £184,000 being left with the Post Office as a reserve,, wliile £30,000 had been carried forward. Had the ampunt of ■ £523,000 been included : the;,.plcficiU would• .have, been ajmost

‘ The Government , has certainly .made the most of . tjje . deficit,. styid- Mr Wilkinson. Valid I a,m woiid.erii.ig \yhal the next Government. will say about -the accounts when the United ; party rioo.s-.out. •-• A - question is -raised- here; ms :to . the. principle ,of a Govorrympni:. -'{.failing 'department;,, when .ovAiim ; -g profit; . retaining it,; while on. the. other yha n d - the.-; Ra il way. Repartmeii t; in a kos a-'loss, and this is, of course;, saddled on to the.,taxpayer. .: ■ ; .;v ‘i‘J : claim that all Government trading departments should account to the Treasury for all profits. The country finds the capital, and takes the financial risk of loss, and it should take the •'i-ofits. The same Budget that allowed the Post Office to keep its profit also provided that the Publie Trustee should pay one half of the profits.of the Public Trust Office into the general fund. This merely recognises the principle.”