SPENDING POLICY
DANGER IN LEAN TIMES CRITICISM OF GOVERNMENT Iky Telesrapn.—Press Association) V\ ELLINGTON, Tuesday A warning that New Zealand would find itself in grave difficulties if the Government continued to spend extravagantly without putting something aside for lean times, was given by Mr M. G. C. McCaul, at a meeting of the council of the Wellington Chamber of Commerce to-night. Mr McCaul said that the Minister of Finance, the Hon. w. Nash, in his speech at Lower Hutt, showed that taxation raised during the past year amounted to more than £33,000,000, equal to something over £23 a head of the population. That meant that the actual burden on the people who paid was very much heavier than £23 a head. “If you take a family of four,’’ continued Mr McCaul, •• it must be considerably over £IOO a family. This in itself is a very serious matter. •• I do not wish to suggest that heavy taxation in times of prosperity is unwise. I believe in heavy taxation at a time when the people can bear taxation, provided—and this is the point 1 wish to make—that the money is put aside to tide us over lean times. Last year over £33.000,000 was raised by taxation, but the Government has actually spent over £34,000,000.”
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Waikato Times, Volume 122, Issue 20501, 18 May 1938, Page 7
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212SPENDING POLICY Waikato Times, Volume 122, Issue 20501, 18 May 1938, Page 7
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