TAXATION AND FINANCE.

Manawatu Herald, Volume XLII, Issue 2156, 29 July 1920, Page 2

TAXATION AND FINANCE.

On the question of taxation and finance, Mr Massey said in his Budget Statement: I regret that I am unable to hold out any immediate prospect of an appreciable reduction in taxation; indeed, it may have to continue on the higher basis for some time. The expenditure arising out of the war and the increasing demands of every branch of the Public 'Service render it necessary to conserve our revenues. For the last two financial years the expenditure of the Consolidated Fund shows increases of £3,553,311 and £5,108,325 over the expenditure of the financial year immediately preceding, but the revenue increases were only £2,140,150 and £3,728,968 respectively. The Government has given serious consideration to the problems of: luxation, and measures of reform will be introduced having for their object the distribution of taxation equitably and in accordance with the rapidly changing conditions of life and industry.

A Finance Committee has been set up in the House of Representatives, and the financial proposals of the Govex’nment, including Bills dealing with Stamp and Death Duties, Land and Income Tax, and other revenueproducing legislation, will be referred to this committee for consideration and report, even though, as'l have indicated, J may not be able to ask Parliament to reduce taxation or do without any of the aggregate amount of revenue collected at present. There are anomalies which require to be removed, and adjustments may be made which will re~ lievc certain sections of the community who under present conditions feed they are being called upon, to pay more than their fair share of taxation.