PARLIAMENT.

Taihape Daily Times, 27 November 1918, Page 5

PARLIAMENT.

THE BUDGET. , YEAR'S SURPLUS, £5,000,000. ACCUMULATED RESERVE £11,500,000 PRACTICALLY NO NEW TAXATION WELLINGTON, Nov. 26. ! The B'udgot was brought down last night, and again its chief feature? of interest was the Finance 'Minister's proposals for meeting the Dominion's big war bills, and the statement respecting New Zealand's financial position at the end of the great struggle lagainst Germany's bid for world supremacy. One matter of satisfaction to tax payers, and emphasising the manner in which the country's present revenue is supplying expenditure demands is the unlikelihood of any new taxation proposals in this year's Budget. Notwithstanding the enormous financial burden of the Dominion and the drain made on a considerable section of the important revenue producers by the mobilisation of married men, New Zealand remains in a happy state of comparative buoyancy so far as its financial outlook is concerned, and the Government is making ready to launch several development schemes on ia large scale. I The Minister of Public Works, who is tabling a report from Mr Parry, on Wednesday dealing with a comprehensive hydro-electric, scheme, especially affecting the North Island, anticipates lan early start with the preliminary work, and next year it is highly jn-obable that a measure will be introduced providing for the expenditure of several millions on this important aid to national progress in the field of industry. The railway service of the Dominion is another adjunct of development which will receive liberal attention again now that the war has happily ended, and as little time as possible will be lost in the return to normal of the country's man-power in pushing forward the pre-war schemes prepared by the General ManagerJ So far as the working of the railways during the past financial year, it is interesting to note that a net profit of about £4 lis per cent, on capital expended was made by the New Zealand'railways for the year ended March 31 last. This return is in striking cbntrast to the profit shown by the Queensland railways, which have the same gauge of line as the Dominion system, and showed a net return of only £1 10s per cent for the same period. The budget contains nothing sensational in the shape of proposals or policy, but deals almost entirely with war washing-up matters. Last year's surplus was five millions, which with £6,500,000 from 191617, made an accumulated, reserve of £11,500,000, all invested, in Imperial securities. .- . ~' ' -,-;

The statement will show- that the total of the war loans raised in New Zealand was approximately £40,000,000 to date, besides £23,000,000 in London leaving nearly £14,000,000 still unused.

Authorities for a loan of about sixmillions will probably be asked for public other purposes, of which, it is proposed to devote about half a million to school buildings. i Teachers' (salaries 'increases jwill bo otherwise provided for. Prohaby two millions will be asked for financial assistance to soldiers, including land purchase, business advances, and general repatriation after landing. War pensions, which amounted to half a million last March, now reach about a million, and it is estimated by next March they will amount to a million and a-quarter. The recurring annual charge on loans failing due this year is one and threequarter millions. The total of the expenditure on munition supplies to date is about five millions, of which one million was expended this year. - Revenue for 1917-18 amounted to £20,250,000 and expenditure to £15,250,000. There arc practically no new taxation proposals. The total actual war expenditure was £51,400,000. Land iand income tax revenue increased by. nearly two millions. The reserve fund invested in London is now seventeen millions. Fresh authorities a-re to be sought to raise a further ten million war loan, locally. Two and a-half millions are to be borrowed for public works. Authority is to bo given loaal bodies to develop water power. HOUSE OF REPRESENTATIVES. WELLINGTON, this day. The House met at 11.30. Replying to Mr. Poole, the Hon. W. G. Russell said there was no information that influenza prevailed on board the Makura, shortly expected in Auckland. If, on arrival, this epidemic was

prevailing, the vessel would be quarantined for such time as the District; Health Officer thought necessary. Replying to Mr. Poole, Sir James Allen said' it would be difficult to remove German prisoners of war from Motuihi Island, but if the Island was required for' quarantine purposes, lie would have them removed to Featherston Camp*j j Replying |o Dr. Newman, the Hon. G. W. Russell said it;was the wish of the Government that no one should be in distress because'of the epidemic, and if application was madia to Hospital and Charitable Aid Boards, relief would be immediately given, and on generous lines. Cabinet had yet to consider the Government's attitude to the whole question of relief. Hon. Mr .Myers said he had given instructions to the Department that all facilities must be given to widows who had lost their husbands as a result of the epidemic to obtain widow's pensions.