POINTS FROM THE BUDGET.

Manawatu Herald, Volume XLV, Issue 2602, 5 July 1923, Page 3

POINTS FROM THE BUDGET.

ESTIMATES AND PROPOSALS. PLANS BY THE GOVERNMENT. Wellington, Jul- 4. Some interesting estimates and proposals for the current year were included in the Financial Statement that was delivered last night in the House of Representatives. They include the following -.—Consolidated Fund—Estimated revenue, £27,969,000; estimated expenditure, £27,277,644; available for supplementary estimates, £691,356. Customs ami excise estimated £7,750,000. Land and income tax estimated £4,800,000. Estimated increase in revenue from spirits and tobacco duties, £450,000. Accummulated surpluses to he applied to capital purposes—Public works, £1,000,000; redemptions, London, £500,000; school buildings (additional), £100,000; total, £1,600,000. Public works and land-settlement to be actively developed to further production, £4,000,000 to be provided for public works. Provision for working Otira— Arthur’s Pass electric and other new railways.

Fust and Telegraph reforms and concessions—Penny postage to lie intioduced: revision of telephone-exchange rates.

I .md-vcii lenient policy to be pursued —401,742 acres under survey ; 485,598 acres to be surveyed. Discharged soldiers settlement—Legislation to be introduced giving effect to reports of Inquiry Board; applications for advances to be received from invalided men; amended conditions for loans on current account, etc.; additional advances, .etc., continued meantime. Swamp drainage to be actively proceeded with. Immigration—Suitable immigrants to be assisted and assured of work and accommodation. £2,000,000 to he held at disposal of Slate Advances Office. Early closing of War Expenses Account —Unexpended balances and capital repayments to be devoted to reduction of war debt. Naval Defence—lncreased appropriation to be provided, including grant towards cost of naval base at Singapore. ' Slate advances—Liberal provision to he made for the purpose of building houses, acquiring homes, and affording relief to borrowers; advances increased from three-fifths to 75 per cent, of security for settlers; advances increased from three-fourths to 95 per cent, of security for workers. War tensions—lncreased provision to be made by legislation for totally or partially incapacitated soldiers as a rexuk ef Special Commission’s report. Native-land settlement—Purchase of Te Kuiti Township to lie completed. Additional concessions to Public Trust Office clients. We -le: n Samoa- -Continued provision for research in tropical diseases and cooperation with London School of Tropical Medicine; meteorological services to lie extended. Gradual reduction of free-of incometax securities. Further reduction in London charges for stock management to be sought. Public debt extinction legislation to be introduced providing for more effective method of reduction. Estimated reduction in interest and sinking fluid charges, £233,782. Loans falling doe (£9,548,865) to be provided for. Payment of £1.651,930 (interest and principal) to British Government for funded debt.

Relief to he provided for Hood sufferers.

Remission of Customs duties—tea duty to he reduced. Further reduction in land and income tax ; income tax on land to he remitted 375,000 Bank of New Zealand £1 shares to he purchased at par. Return to pre-war rates of taxation.