THE BUDGET.

Auckland Star, Volume XLV, Issue 186, 6 August 1914, Page 7

THE BUDGET.

REVENUE THIRTEEN MILLIONS. SURPLUS OF £426,000. PROPOSED THREE MILLION LOAN. ONE MILLION FOR ROADS. (By Telepraph.—Parliamentary Reporter.) WELLINGTON, this day. The Budget and Estimates will be brought down to-night. The statement has not been altered in any particular as a consequence of the war crisis, but a paragraph is added at the --nd dealing with the possible need of moJilication. The revenue is shown to have been remarkable, uniler the tireumi'tam.es, amounting to about thirteen millions, while expenditure was £174,871 less than the estimate, including £50.000 iv the Lands Survey Department. £4,442 under special Acts. £27,000 in internal afl'aird, and £25,000 in defence. The Budget will state that, but for the cost of the strike and the smallpox epidemic, amounting to about £125,000, and loss of railway revenue, £171,000, the surplus would have been over threequarters of a million. The actual surplus is £426,000, and if it had taken in the Land Fund, would hare been over i; 500,000. Probably in the vicinity of £4«0,000 will be converted out of Consolidated Revenue to the Public Works Fund. Last year's loan was £2.750.000, and but for the extraordinary circumstances that have arisen in the last few days the present year's loan proposal would not have exceeded three millions, including a special loan of about a million for railway buildings spread over several years. The legislative programme is likely to contain some important new features. Tbe law relating to the compulsory acquisition of land for settlement will lie considerably strengthened. COST OF THE WAIL Concessions under the Customs tariff were intended, this being possible owing to the fnct (hat the Customs revenue last year considerably exceeded the Estimates. The amount available for such purpose was about £50.000. But European events have completely disposed of the prospect of reduction of taxation, the community being more likely to have met higher burdens as part of its share in the great struggle.

Interviewed t-his morning. Mr. Allen stated that the Budget was several longer than that of last year. Q)isoiififiing the financial and legislative proposals it. contained, he said, regarding recently altered conditions: "We must await circumstances as they arrive. We cannot definitely say we are going to expend at tihe same rate as we would have proceeded had the present crisis not arisen." He declared that Wie State lending departments were never in such a sound position. There had been very large commitments recently, but they would have ample provision to meet them, ami would meet them. He pointed nut that in estimating the surplus he had left <nit the increased amount for the superannuation fund, amounting to ; £:{.").00n, in addition to which a further | amount would be required for railway superannuation. The Minister stated I that the Budget was based on the actual state of finances before the coming of the crisis, which was dealt wibli in an affixed paragraph.