ABOUT PARLIAMENT.

Taranaki Daily News, 24 August 1915, Page 7

ABOUT PARLIAMENT.

FINANCIAL STATEMENT. By Telegraph.—Special to Daily News. Wellington, Last Night. It was stated in the local papers this morning that the Financial Statement would probably bo delivered to-morrow night, but, according to later information, it is unlikely to make its appearance before Friday. It is understood that Sir Joseph Ward has been busy on the document during the past fortnight, but as lie will have to provide at least two million additional revenue by taxation, no one should grudge him a little time in completing his task. It is expected that a million, in round figures, will be required for war pensions, and anotficT million for interest and sinking fund, in connection with war loans, while, it is quite possible some assistance may be required by the ordinary revenue.

THE WAR TAX. People are talking of the war tax as if it were an impost to be levied on one class of the community, the large landowners, the big merchants, or the idle rich, but the indications are that it will be very widely "distributed, and that even tho workers will be asked to contribute toward?! the common fund. It was imported, some months ago, that tea and sugar were marked out for small duties, but it is thought now that the National Cabinet, with its very natural desire to stand well with both parties, -will not interfere with tho "free breakfast table." The breakfast table is not free now, thanks to the protection given to farmera, but tea and sugar have stood so long on the free list that it would take a.very bold Minister to restore the old "duties. ,v : "" THE INCIDENCE. It is reasonable to suppose that Sir Joseph Ward will make an effort to get at the huge profits that have been made by various people out of the war. The easy plan, of course, would be to put on a stiff graduated land tax, but that would not necessarily catch all the wealthy individuals who have been making large additions to their banking accounts during the past year. That there will be additions to the land and income taxes may be safely predicted, but they arc not likely to run into half a million a year. Beer, spirits, and wines are pretty sure to be asked, to hear a little, more, and other luxuries that will stand being made still greater luxuries may be added to the lirit. The death duties already have .been raised high enough to do a good deal more than pay for the Dreadnought, and it is doubtful if they will be squeezed any further, but it 'is possible that racing and other amusements may bo brought to account. A rise in the railway rates Is inevitable, altogether apart from the conditions created by the war, but the Minister will have to proceed very carefully to avoid crossing the line where revenue does not expand with higher charges. Sir Joseph Ward's task appears all the harder the closer it is examined, and none but a glutton in figures and finance would care to take over his office at the present time.