PARLIAMENTARY.

Wairarapa Daily Times, Volume XII, Issue 3834, 17 June 1891, Page 2

PARLIAMENTARY.

FINANCIAL STATEMENT.

: The Financial Statement was delivered in the Bouse of Representatives by Mr Perceval last evening. CONSOLIDATED FOND. The estimated expenditure for the year 1890-91 amounted to L 4,125,502. The" actual expenditure was L 4,175,108, showing an excess of expenditure over the estimate of L49i606. The late Government estimated the revenue to be received for the year at L 4,159,000,,159,000, including primage duty. The actual amount received was L 4,282,504. THE PUBLIC DEBT. . The gross public debt on 81st March, 1890, was L 88,667,950, and the net public debt L 37,281,764. On 81st March last the gross public debt was £38,822,250, and the net debt L37;859,157.

Public Works Fond.

The balance to credit on this account on 31st March, 1890, was L 283.675. During the year it became necessary to issue debentures to the extent of L 25.000. The expenditure during the year amounted to L 128.810, thus leaving at the close of the year an available balance of L 110.645. Of the North Island Main Trunk Eailway Loan there was an unexpended balance of L 856,107, subject to L 44.902 for outstanding liabilities. The balance is to. be allocated as follows:—Eailway pur* poses, L 282.424; roads to give access to railway, L 24.651; purchase of Native land, L 88,831. Putting all things together, the available balance at the beginning of the year was L 1,058,248. The expenditure during the year amounted to L 385,151, leaving an available balance at the close of the year of L 718.096.

The Pkoposed Expenditure,

The expenditure as proposed would be found to amount to £4,155,105. Excluding the working of the railways, very ..reductions had been made in the ordinary departmental expenditure. The Obdinary Revenue.

After careful consideration the ordinary revenue for the year 1891-2 was estimated at L 8,986,500, or LBOO4 less than the' actual receipts of last year. The railway revenue was estimated which was L 9822 less than was received last year. THE SURPLUS. Deducting the estimated expenditure from the receipts, a surplus was left of L 257.660. The question was, how could this surplus be best disposed of ? PENNY POST, j • The time had arrived when a penny postage system should be established in New Zealand. This would mean a reduction this year ol L 40.000 in the receipts, It was also intended to establish a penny post with the Australian Colonies. Or-ENING UP LANDS. { It was proposed this year to apply LBO.OOO out of the revenue for opening up land for settlement. There was an estimated deficit in the Land Fund of L 21.820, which would be met by transferring a similar amount from the ordinary revenue. TQTALJSATOR TAX. A tax of \2£ per cent, would be made on totalisator money, which would amount to- LIO.OOO a year. THE CIVIL SERVICE. Was it possible to have a Civil Service in which the country had confidence? The Government believed that the Civil Service Bijlhadinit such elements of sound reform as would enable the question to be , answered in the affirmative. Government Insurance.

Departmental economies had been effected during the year of between li4ooo and LSOOO on the annua,! expenditure, a : nd the wpilj of' retrenchment was prooeedingf

Settlement of the Land,

The public estate still available for settlement suggested the necessity of providing that the settler be con-> sidered before the speculator. The pastoral and agricultural land available amounted to 2,850,000 acres. A Bill would be introduced to establish a satisfactory system of laud purchase. The Government thought an amendment of the ■ Act in the direction of making money advanced for opening up lands a first charge on the proceeds of the land would give a fresh impulse to colonisation. Native . Lands. .

The necessity of providing sn. extension for the settlement and purchase of Native bands was seen, and a vote would be submitted in the public works . estimates for the purpose. They would endeavor to hasten the beneficial settlemeut of Native Lands. The numerous and complex Native LaDd Laws would be consolidated in one concise and intelligible measure. Incidence of Taxation.

It was proposed to introduce a Bill to abolish the Property Tax and to provide for a land and income tax, and in respect of the land tax to grant an exemption on improvements up to the value of L3OOO for each owner, and also to impose a gradual tax upon all persons and companies, the value of whose land, less the LBOOO of improvements, shall amount to LSOOO. It wasestimated that the deduction of improvements would cause a loss of revenue of about L 60.000, and the gradual tax would bring in an increased revenue of L 61.890. In addition to the deduc* 'tion for improvements there would be the exemption of LSOO from an owner's land. The graduated tax would fall entirely on the owner of the land. For the purpose of the tax it. was considered that the mortgagee was a part owner. B,y the prpppsed taxation a grand total of L 266.847 would be raised. The Property Tax was believed to be grossly unjust to the population. s They intended to substitute an income tax of a shilling in the £. .There would be an exemption of Ll4O and- an addition by way of abatement of a like amount from incomes which do not exceed L6OO. Companies will be subjected to the same rate of income tax." The income tax would not be levied on any income derived from the land or from money lent on mortgage. Incomes up to LBOO wouldbe exempted. The new system was rot coming into force until March, Exports.

They had to congratulate them-* selves oh the increase of the exports, but the reason for congratulation suffered serious abatement when the discoveey was made that more people were leaving than were arriving in the colony. The Unemployed.

What was wanted was a system under which statistics might be furnished to & central office at frequent intervals, weekly or monthly, of the state of the labour market in every part of the. pplony. With a view" to relieving the unemployed and stopping the exoduß, they proposed "to put in hand such public works as were of a reproductive character .and for which monies were availablet