FINANCIAL STATEMENT.

Taranaki Daily News, 28 August 1915, Page 8

FINANCIAL STATEMENT.

INCREASED TAXATION. By Telegraph.—Special to Daily News. Wellington, August 26. The galleries were full this evening when Sir Joseph Ward rose to deliver the'fifst Budget of the National Government, the attraction, of course, being the prospect of hearing something about the taxation proposals that were known to be necessary to meet the large additional demands made upon the revenue in connection with the war. The galleries were not disappointed. Sir Joseph had to get through several pages of rather tiresome figures and familiar iterations before lie reached the really interesting part of his statement, but when he got there both members and visitors sat up and took notice. ITS INCIDENCE. The most striking feature of the taxation proposals was their avoidance of any impost that could press hardly upon the poorer classes, by increasing the cost of living. It was the big man who had his patriotism stimulated by a frank appeal to his purse in the present crisis. The Minister did not propose to lay confiscating hands upon the war profits of the big farmers and big traders, but he put them in the way of conveniently transferring some half-million of their gains to the public treasury. THE GENERAL OPINION. Sir Joseph Ward was warmly applauded when lie rose to deliver the Statement, and still more warmly when he concluded his task, with a nicely-turned allusion to the future, and to the good that might be expected to flow from the evils of the war. (Probably this was intended as mucA as a compliment to the man as to his proposals, but the opinions expressed in the lobbies later on suggested that at first sight the Statement had commended itself to the judgment of a majority of the members on both sides of the House. There were objections, of course, to almost every item by various members, but the general verdict was distinctly iu favor of the scheme of finance and of the revision of taxation it involved. A NUMBER OF ESTIMATES. By Telegraph.—Special to Daily News. Wellington, August 20. The estimates attached to the Financial Statement include the following items: — Advances to New Zealanders stranded in England at the outbreak of war, £3OO, Cash taken by Germans at Fanning Island, £34. Renovation of graves in historical cemeteries, £IOO. Salary, allowances end expenses of official war correspondent, £IOOO. Subsidy ( £ far £) on cost of removal to New Plymouth cemetery of remains of soldie.'s killed in Taranaki district, and erectioi! of obelisk, £ 150. Telegrams beyond the Dominion, £7OOO (voted last year, £3000). Remission of duty on wheat, flour and oats, £BSOO. Expenses of visit of Government Astronomer to Lick Observatory, £72. Contribution towards fund of New Zealand War Contingent Association in London for wounded and invalid New Zealanders, £SOO. Subsidy to Egmont Park Board, £2OO. Expenses in connection with smallpox epidemic, £1350. Expenses in connection witli Empire Trade Commission, £2040. Expenses in connection with raising and distribution of various relief funds, £750. Seddon memorial, £IOOO. Work in connection with harbor defences, £3OOO. On account of nuw Government steamer, £ls,(Xioi

REVENUE.

Tlie revenue for the year 1914-15 was estimated at £12,468,3701, and the total collections amounted to £12,448,523. Details are:.—< Receipts Estimated Actual Revenue Account— £ £ Customs ...... 3,300,000 3,167,283 Stamp and death duties .... 1,200,200 '1,417,207 (Postal and Telegraph ..... 1,345,000 1,353,443 Land-tax ..,„_.; 759,000 799,641 Income-tax ..>.;.; 565,000 540 318 Beer duty ..... 125,000 127560 Railways .... 4 ; 250,00Q 4,100^75 Registration and other fees .. ' 101,700 101,020 Marine 52,300 50,387 Miscellaneous 455,400 461,498 Territorial rev> enue 78,770 78,770 Totals 12,488,370 18/H&oas EXPENDITURE. The expenditure for the year 1914-15 was estimated at £12,564,551, and the actual expenditure amounted to £12,379,803. Details are as follows: Permanent Appropriations—- £ £ Civil list 24,300 21,954 Interest and sinking fund 3,059,069 3,071,448 Under special Acts 526,318 545,341 Subsidies paid to Local Authorities 124,500 124,821 Territorial revenue 53,500 51,685 Endowments .... 183,270 173,946 Old-age Pensions .. 441,369 436,765 Widows' Pensions 32,000 31,610 Military Pensions 40,000 47,607 A- . .1 4,484,326 4,505,177 Annual Appropriations— Legislative Depts. 40,757 37,552 Dept. of Finance .. 201,851 170,134 IPost & Telegraph Department ... 1,240,634 1,244,569 Working Railways 3,031,504 2,881,087 Public Buildings, Domains, etc. ... 122,360 1.1.7,676 Native Dept 25,241 24,005 Justice Dept 451,206 442,478 Mines Dept 36,468 29,170 Dept. of Internal Affairs 490,024 489,206 Defence Dept 512,328 499,137 Customs, Marine & Harbors, etc. ~ 172,277 149,200 Dept. of Labor ... 28,878 25,142 Dept. of Lands and Survey 254,124 239,043 Dept. Agriculture, Industries &. Commerce 220,102 206,731 Education Dept. .. 1.255,871 1,207,983 Services not provided for '8,080,225 7,874,626 12,564,551 12,379,803