A REAL BUDGET.

Waikato Times, Volume 119, Issue 19883, 12 May 1936, Page 9

A REAL BUDGET.

(To the Editor.) Sin—Knnually we have a lot of tall; about balancing budgets. Whether the present Minister of Finance will continue this farce remains to he seen. Budgets as produced to—day are mere scraps of paper to impress the ignorant, and from an auditor's point of view not worth the time expended on them nor the paper they are written on. At best they are statements of income and expenditure; the figures may represent anything at all, or no—thing. There is no relativity to real facts. but they are useful for poll—tloians, welfare leagues. etor, to inflate themselves as to what has been done. “"hnt we require in this country is a real credit budget, one side showing impoverishment, the other side show—ing enrichment, the debit side show—ing consumption (people‘s goods sold retail, including pensions. sustenance payments, etc.), wear and tear, depreciation of business equipment, and exports (real wealth lost by us}. This completes the impoverishment side. The credit side would show production (people‘s goods and busi—ness goods), imports (real wealth received by us). The balance, which would ever be in favour of enrichment. would be uSed as a compensated price adjusted as a discount to equate both sides of the national balance sheet. Can any' fault he found with this suggestiou?——l em. etc.. PHILIP GIBSON. Hamilton, May 11.