PUBLIC DEBT INCREASES.

Ashburton Guardian, Volume XLVI, Issue 10457, 25 July 1925, Page 6

PUBLIC DEBT INCREASES.

LOWER TAXATION PROPOSED, V ■ Tho Financial Statement was delivered in the House of Representatives last evening, by the Minister of Finance, the Hern W. Nosworthy. IMs principal proposals are: Life insurance policies up to £I,OOO to bo exempt from death duties. Reduced use of revenue for capital purposes. Provision for progress of develop mental operations. Changes in preferential Customs conditions. /Provision for school buildings. Extension of allowance of 2s 6d per week as an addition to the old-age pension off 15s per week and also to pensions to the blind. Continuation of cest-of-hvirvg bonus to annuitants. - Additional Naval expenditure for second cruiser. Introduction of competitive schemas in connection with the planning,of model suburbs. > Measures against land aggregation. Roatfvances for more fully of soldiers’ farms. Review by dominion Board of current account advances to discharged soldiers. Fostering cf programme of reclamation of waste lands. Encouragement of system of table mortgages. Empowering legislation governing the lending rates of the State Advances Office. Legislation providing for the cl os mg of War Expenses Account and transfer of remaining liabilities to Consolidated Fund. Reduction of limit of expenditure cut of “Unauthorised.” Cancellation of local bodies’ unexpired loan authorities in respect of completed works. Further reductions in taxation. Adoption of straight-out schedule end reduction of income-tax to a parity with debenture-tax. Repeal of mortgage duty. Improved measures for repaying public debt.