Taihape Daily Times AND WAIMARINO ADVOCATE SATURDAY, MARCH 9, 1918. NO INCREASE OF TAXATION.

Taihape Daily Times, 9 March 1918, Page 4

Taihape Daily Times AND WAIMARINO ADVOCATE

SATURDAY, MARCH 9, 1918. NO INCREASE OF TAXATION.

(With which is incorporated The Tai hapo Post and Waimarino News).

one of this country's most disturbing anticipations has been set back for at least a year. The Minister of Finance has announced that there will be no -increase of taxation. Levies now being made are ample,,fox. all,needs and, has/, not <said,,soj figureslook promising for ..almost precisely similar conditions :for.-a still-,;further period. It is particularly gratifying so- know that all our business calculai , , fions ;-fo,r the coming year may be based upon' the - amount of - taxation paid, for the current year; that all concern is removed about what increases were likely to be while arranging for future business operations. Responsibility is felt by those who pay most taxes for the. successful flotation of the War Loan that : is to be issued •within the next week, and the knowledge, that there is to be no increase in taxation will, leave.'them free to ; put every . available penny into an. investment at good interest where it is free-r ? from taxation, presuming that the issue will be made on conditions similar to previous War Loans. Sir Joseph Ward informs us that for eleven months of this year there is a net increase in revenue of oveer two millions and a half sterling over the corresponding period of the previous year. As against this the expenditure for the same period has increased by something over three-quarters of a million, including increases of interest and sinking funds amounting to just on three hundreds and seventy -three thousands. This leaves about a million and three-quarters to the good after all increases of expenditure have been provided for and met. We do not know what Budget details will reveal but" such buoyant finance may well carry the country on for the next two years without any disturbance of the taxing machinery. This country's very, worst business department appears to be its railways, for, despite the fact that that department accounts for £208,588 of the increased expenditure, it appears amongst decreased revenue items for £53,209. The General Manager of Railways has spent £208,58S more than in the preceding eleven months and shows decreased returns amounting to £53,209. Railways is the only Department figuring amongst the six showing decreases that attract attention. Our railways went to the' wrong side during the eleven months to the extent of £261,79f. It seems to us that there was no more excuse for railways appearing so alarmingly on the wrong side than for Posts and Telegraphs. The latter made an increase of income of £120,704; its increased expenditure amounted to £40,858, a net increase on the right side of £73,946. Other Departments in which there was a falling off in revenue are Customs, Marino, Registration, Territorial ana" miscellaneous, all of which were expected, owing to shortage of shipping and difficulties of trading with foreign countries. The obligations of the Minister of Finance arc, of course, annually increasing, "but he has been careful in presenting a "forecast of his budget not to use the rouge bag. On the otheT hand he says that "the full amount of income tax had not boon

brought to account on February 28th, consequently, at. the end/of the year a still further increase from this source of revenue may be expected. ('ln comparing the- -twelve months to February, 1918 with the twelve months to February 1917, we are told by the Minister that the levies on land and incomes show an increase of £5,379,508, while the increase for the last eleven months was only £2,608,405. These figures, Temarks the Minister, for either period show a larger amount of revenue from these two sources than has ever before been obtained in the history of the Dominion. When it is understood that land and incomes contributed in the last twelve months in taxation no less than £7,583,650, £ casual glance, leads to the assumption that land and incomes are bearing somewhere near if not their full share of the unprecedented burden which German hideousness has forced upon this country # While every section of the people must feel some elation at the remarkable soundness of the financial position, reflecting ability and extreme care exercised by the Minister, all will feel that the burden on those who are compelled to pay so very heavily is too great, and Can only bo borne while markets do not recede from present levels. There must be more producers to share the burden with those at present bearing it, and if similar care, concern, adaptability and energy had been shown and exercised by other Ministers in their respective Departments the outlook for producers would not~"have been crossed with any darkening cloud. The whole country is crying aloud, for this increase of (production which every man amongst us with any • business instincts at all realises is imperative; but what do they see as they look over the land? They see, all over the country, school-houses closing, and falling into dilapidation because the children are all gone, none left to at-

tend them; they sec one man occupying the land that a few years ago supported half-a-dozen farmers with their families. In place of the merry, inspiriting voices of numerous children, there is nothing" but the bleating of half-cared for sheep, or the lowing of unhappy cattle. This is the only contaminating, poisonous fly in this country's financial ointment' which has been so carefully and skilfully compounded by- the Minister of Finance. .-iWhb was it that-thrust "this pdison *into the. country'sT life blood, and who is it that is-responsible for the continuance of its deadly influence, its destruction of 'that from which springs- the comfort and wellbeing of the people? The management of our finance leaves nothing to complain about, can it be said that laws governing production ... aj.e equally satisfactory? ■ ~ ; ; -.• j-,r r\;;v.:,-