THE FINANCIAL STATEMENT

Taranaki Daily News, Volume LIV, Issue 68, 11 September 1911, Page 3

THE FINANCIAL STATEMENT

\ ADVANCES TO WORKERS, i J Sonic amendments lo the Advances to Workers Act will be submitted. The provision limiting an advance, to a worker to the value of his building will be abolished to further assist the workers to provide homes for themselves. Authority will be asked to increase the present amount authorised to lie borrowed by £250,000 per annum, making £750,000 per year, instead of £500,001). These alterations will further increase the usefulness of the measure. INCREASED LAND TAX.

Since I have been head of the Governnien the number of persons who selected Grown lands amounted to 53.000. These settlers aggregate 209,200. J have excluded from these figures all those who selected pastoral lands and leases for 1 short or temporary periods. One thousand five hundred selectors were placed upon 44.2,200 acres. The amount expended during the same period in purchasing and sub-dividing fifty estates for closer settlement was £1.040,000, and the area acquired was 2011,872 acres. Notwithstanding the substantial progress which has been made in the sub-division the close settlement of the largest estates in the Dominion demand acceleration, and I think this can be best effected by an increase in the graduated, land tax on all estates where unimproved value exceeds £IOO,OOO in value. 1 propose therefore tp increase the rates found in the present graduated scale on such estates by 25 per cent., and to allow owners a reasonable time to cut up their estates themselves and to give tVem three years before putting the increase into operation. THE DOMINION'S TRADE. Despite the fact that last year was a record one the export trade of the Dominion for the year ending March 31 last showed an increase of £520,921 over the previous vear, the actual figures being: 11)11, £21,543,900 (1010— £21,491,900). The imports for the year were valued at £1.7,713,183, an increase of £2,350.604 over the previous year. FINANCE FOR 1011-12.

There is every reason to hope that the year will be a good one. Prices for our staple products are on a satisfactory scale and trade throughout the Dominion is active. There are comparatively few out of employment. I look forward hopefullv to a successful year, and I am justified in anticipating that there should be a substantial surplus at the end of March next. EXPENDITURE.

The progress and prosperity of the country has made such strides that it is only natural with the increasing demand for further facilities in railways and'postal services, education, and the establishment of universal training, that an increased expenditure of public moneys will be required. This I estimate at £10.130.500, an increase of £793,401 over that of last year. The increases will be as follows:—Permanent charges. £227,741: departmental. £585.720. The permanent charges must not raise the interest on each sum borrowed. The principal increase is for interest £205,104. Departmental expenditure will reach £0,205,975, being £565.720 in excess of that for 1.910-11. The principal increases are: Railways, £104.187; odu* cation, £93,150; defence, £171,635.