BUDGET POINTS.

Manawatu Herald, Volume XL, Issue 1908, 28 November 1918, Page 3

BUDGET POINTS.

MAIN MATTERS IN BRIEF

The principal points of the Budget are given in the following summary by the Minister of Finance (Sir Joseph Ward) : THE YEAR’S OPERATIONS.

War loan moneys raised in the Dominion, as at 30th September, had reached a total of approximately £39,250,00(1; approximate cost of raising, one-half of one per cent.

Investments in London increased to £17,8(50,012, as at 30th September, 1918. Ordinary revenue reserve increased to £9,570,380, as at 31st March, 1918. Redemptions and renewals effected amounting to £3,361,750. £1,930,950 converted into longdated securities. Net surplus of year’s revenue, £5,085,934. Total accumulated surplus on 31st March, 1918, £11,560,788. Total lodgments to Public Account, 1917-18, £66,800,000, as compared with £17,000,000 for the year 1913-14. Total disbursements from Public Account, £65,090,000 for 1917-18, as compared with £17,100,000 for the year 1913-14. Customs revenue, £434.308 above estimate.

Public works expenditure reduced to £l,l-11,472.

Income-tax receipts increased by £1,357,435. Land-tax receipts increased bt £672,590.

Stamp revenue increased by £192,079.

Excess of Post Office Savingsbank deposits over withdrawals, £2,045,300. Eighteen settlements purchased for discharged soldiers, making a total area of 394,211) acres thrown open and available for settlement. 1190,941 authorised for soldier settlors by way of tinaueiul assistance. . 17,117 war pensions granted to 31st March, 1918, representing an annual value of 11,122,052. Total payments to producers for supplies purchased on behalf of the Imperial Government, 159,211,190. AA’ar expenditure to 30th September, 1918, 151,400,000. PROPOSALS. Establishment of Post Office Savings Bank Reserve Fund. Authority to borrow additional £200,000 for afforestation purposes. A sum of £150,000 to be provided for Government hydro-electric, schemes in Auckland and AA’clling(on provinces. Local bodies lo he empowered to develop wa t er-power. Increased war bonus, and payments to Government employees, A stun of 1300,000 to be provided for school buildings, etc. A sum of 11,500,00 for war pensions. Authority to raise additional 110,000,000 lor war purposes. Public works loan, £2,500,000. Loan for soldiers’ land settlement, £1,000,000. Assistance to soldiers, 1500,000. Educational, curative, and vocational training to he provided for. Provision to be made to meet expenditure necessitated by influenza epidemic.