IMPREST SUPPLY.

Taranaki Daily News, 30 August 1922, Page 5

IMPREST SUPPLY.

OVER TWO MILLIONS VOTED. PREMIER REVIEWS POSITION. “OUTLOOK DISTINCTLY BETTER.” By Telegraph.—Press Association. Wellington, Last Night. An Imprest Supply Bill authorising an expenditure of £2,280,815 was brought down in the House this afternoon by Governor’s message. Mr. Massey saad he had no wish to restrict discussion, but in view of the fact that the financial debate was going on, in which members were allowed ' considerable latitude, he hoped they would pass the Imprest Bill before 5.30. Mr. T. K. Sidey (Dunedin South) said he could not let the Bill go altogether by default, because they must remember this was the third Imprest Bill, and they had been in session nine weeks, but they had practically done nothing.

Mr. Massey: We have discussed five no-confidence motions.

Continuing, Mr. Sidey said there was pow clear evidence that the House wae being dominated by the party system but the Premier had said before the last election he was not going to revert to the old party system. This was shown in the fate of private members’ Bills; unless they came from the Government side of the House they had no chance of passing. He declared that the Government had no Bills ready, with the result that no Bill of importance, except the Land Tax Bill, had been brought forward. They were simply marking time. TAXATION PROPOSALS. The House, he said, was entitled to know what the Government’s taxation proposals were, especially as the Premier had declared he had made up hi® mind as to what his proposals were to be. The Government was not acting fairly to debenture holders, from whom taxation had been collected in advance, and some of whom were entitled to a refund. The Government’s action towards these people was neither fair nor honest. There was nothing before the House to show there was anv proposed reduction in income tax. The House was entitled to some sort of financial information from the Premier; they should know how the Customs revenue was coming in. how the railways were progressing, and whether the Minister had diagnosed the cause of the loss which had bceh going on for a long time past. Had the Government thought of trying some concessions to encourage people to use the railways as against motor traffic? With regard to tax free debentures, he declared that whatever was done, there must be no breach of faith with the holders of bonds. The Hon. G. J. Anderson ridiculed the idea that the Government had no legislation ready. They were not able to : get on with their work because the Opnosition had blocked the passage of business by moving five or six futile noconfidence motions. REVENUE OUTSTANDING. Mr. G. Witty (Riccarton) suggested, in regard to free of income tax bonds, that the Prime Minister should bring down legislation providing that no person or company should hold bonds to a greater value than the value of the bonds taken up originally when ths loans were issued. That would not act unfairly against anybody. The Hon. J. A. Hanan (Invercargill) commented upon the fact that nearly £1,900,099 was outstanding for income tax and land tax. Never before had there been such a huge amount of revenue outstanding, and it was a serious matter. Despite the economies already effected, the cost of Government must be further cut down. Mr. H. F. Holland (Leader of the Labor Party) stated that while New Zealand had to find €25.000 a day in order to pay interest to money-lenders, taxes must remain high. Discussing the price of bread, lie said one firm in New Zealand had been prepared to sell bread at 5Jd per loaf, but a ring had got to work and interfered with the firm’s credit _and prevented them doing so, and he asked what the Government was going to do about it. It ought to be made a criminal offence to do as the combine had done. The second reading of the Bill was then passed. FINANCE POSITION. Mr. Massey, in reply, said he proposed to deal with the question of income tax when the Bill came down. It would contain amendments to the law. some of the amendments being recommendations by the Taxation Committee. As to the financial position, he had been constantly tellinsr the House what the position was. He had told them a good deal in the Budget, .and when he replied he would give information on every po\nt raised in the debate. In a general way. however, he could say revenue was still falling, but he was looking forwarct nt an early date when it would cease to fall and thing? take a turn for the better. For the four months of the financial year just completed, he could tell the House, compared with the same period last year, the revenue had fallen by £450,900 hut against that the expenditure had dimin?.bed ffy £1.209.000, which afforded them some consolation. Prices on the whole were rising, but the trouble was that many producers would not benefit, because they sold their wool before the rise took place. The outlook, however, was distinctly better. The Bill was then put through all the remaining stages and passed. The Imprest Supplv Bill was read a first time by the Legislative Council tonight.