THE BUDGET.

Taihape Daily Times, Volume 7, Issue 280, 30 August 1915, Page 7

THE BUDGET.

SOME LEADING POINTS,

“I do not expect the proposals to realise all the aspirations of all the people, but if the truce between the parties is to endure, there must be concessions and conciliation on both sides, and I think the wish of the conuery and of this House is that the National Government should endure at least till th■■ Tiiuuies of the Empire are defeated and we again are free to dealt with our domestic affairs.”

Gross surplus for 1914-15. £.149,047 net surplus £72,142. (

Up to March 31st, 1915, the war cost the Dominion, roughly, £2,750,000, including liabilities outstanding at that date.

i Provision has ben made for all I loans, amounting to £10,129,6(55, falling I due between July Ist, 19151, and March i 31st, 1915. j Revenue- for 1914-15 was '£12,443, j 525; £44,845 less than the estimate, j . Expenditure for 1914-15 was £12,.379,803; ' £184,748 less than the estimate;

Balance available for public works on March 31st, 1915, was £2,170,762 — in hand £695,762, Man money to receive £1,475,000.

Gross public debt on Earch 31st, 1915, £100,059,10; net debt £96,644,455.

Loans amounting fo £6,274,958 fall due during the current financial year. The Minister anticipates no difficulty in arranging for the renewal of these loans.

Total shipments of meat on behalf of the Imperial Government up to July 31st were 151,367 quarters beef, 1,296,995 carcases mutton, and 1,747,596 carcases lamb. Total payments to freezing companies and producers £3,022,344. Forty insulated steamers left tlie Dominion between October Ist, 1914, and March 31st, 1915, carrying the equivalent of 2,669,281 freight carcases.

Returns show that the wheat yield of the- 1915 harvest amounted, approximately, to 6,250,000 bushelk, insufficent to provide all requirements till harvest 1916. Opton over 1,000,000 buslmls of Canadian wheat has been obtained.

What threatened to be a period of depression developed into one of increased activity, and there has been little difficulty in providing employment for applicants.

During the year the gross land revenue amounted to £1,163,271. Four hundred and ninety-four settlers, occupying 93,547 acres, converted from leaesehold to freehold, paying a sum of £174,412. The area dealt: with under the Land for Settlements Act was 50,211 acres, valued at £356,686. Revenue from Post and Teitegraph Department was £1,353,443, an increase on revenue of previous year of £95,906. Savings Bank deposits £11,904,323; withdrawals £10,603,018; to credit of deoositors £19,048,029; an increase of £1,916,615.

Pensions paid: Old-age £460,854; widows £31,617; military £47,610; total £540,081, an increase of £66,000. Defence expenditure (apart from war), £499,137.

A sum of £159,137 had been received by the Government from the public up to March 31st in actual cash towards the expenses of the war. No less than £80,400 was subscribed by the public to the Governor’s hospital ship fund.

An increase of £90,000 will take place in public school teachers’ salaries this year.

Estimated expenditure for 1915-16. £12,053,242; estimated receipts, £ll,67(3,254; deficiency, £827,941. On assumption that war will last another year, expenditure on pensions is estimated at £1,000,000 per annum, and on interest and sinking fund on loans (say £12,000,000) £700,000 per annum.

New taxation and increased charges proposed are expected to produce the following additional revenue:—Land tax, £67.940; income tax,£551,660: Post and Telegraph, £380,000; railways, xduOjOOO; i;;sr,.ms, .£285.000• totolisa-

tor dividends, £75,000; beer duty, £53, 000; bank cheques, £50,000; land mortgages, £48.000; receipts, £40,000 f : conveyances, transfers, etc., £40,000; succession duties, £30,000; non-ak chalk beverages, £20,000; bank notes, £2O, 000; sub-sales of land. £IO,OOO.