The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER FRIDAY, AUGUST 27, 1915. THE FINANCIAL POSITION.

Stratford Evening Post, Volume XXVII, Issue 99, 27 August 1915, Page 4

The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER FRIDAY, AUGUST 27, 1915. THE FINANCIAL POSITION.

Sir Joseph Ward, as Minister for Finance in the National Cabinet, had a difficult task in Framing the Budget presented last night to the House. As he remarked, there is no portion of the civilised world which is not. to a greater or less extent, feeling the effects of the war., and that we have felt it as little as we have is remarkable. But to those who have thought carelessly or iridinVrent.lv that we van uo on without materially increasing our burden, the Financial Statement will come with somewhat of a shock. Sir Joseph Ward is entirely right when he says that the financial position created by the war is one calling for prudent and vigorous treatment, and must lie faced by the government and the people with inflexible courage. He also strongly impresses upon every section of the community the necessity for care and economy, especially in the matter of luxuries, until the great war now raging is over. and his words in this respect must appeal to every thoughtful man or woman. Desirous of distributing the incidence of tax-tion over the widest possible area in order that the effect may be least oppressive, the Government is faced; with a difficult problem, and if has endeavoured to meet it equitably and on I sound lines. Broadly, the position is that an extra amount of £2,000.000. for war purposes chiefly, must be raised in New Zealand this year, and, as the Minister points out. it will depend upon the duration of the war us to whether or not even this large exti'i sum will be enough. It is proposed to raise the sum required by increases in taxation and rates which may be summarised under the following heads :•

Land and Income Tax ... (515),G00 Post and Teley;i'apli ... 380.000 Railways ... ... ... 360.000 Customs ... ... ... 2K0,000 Totalisator dividends ... 7").110') Keep duly ... ... .V.. 00.) U;»nU-elieques ... ... •*)(). 000, Laiid-nioi-tKajios ... ... 18.000, Receipts ... ... 10,000' Conveyances, transfers, etc, -10,000 Succession duties ~, ~, .'!(),000 Non-alcoholic Ijovomgey ... 20.00:) Hunk-notes ... ... 20,000 Subsides ol' hind ... ... 10.000 £2,032,000 The list is n widely Romprohensive

nno, and in eases alums! drastic. Thai

l.ht'i'f! must be inequalities and instance.- where the pressure will be unfairly heavy, and also instances where some who ought to pay- will escape taxation is inevitable, but at the same time the net is a 1 wide one ami the scheme on the whole as good as could be expected. What we have to remember is that the situation is a critical one. and that our Empire is lighting for the right to live. Any sacrifice under such circumstances cannot he too great. If Germany were even partially successful we should have nothing. Patriotism at least demands that we should, with cheerful spirit. do our duty as citizens of the Empire.