MR. FORBES , FIRST BUDGET.
Half of Three-Million Shortage to be Met
by Economies.
TAXATION BURDEN PLACED "EQUITABLY."
MIXED RECEPTION IN PARLIAMENT.
The Budget shortage this year, as shown in the Financial Statement delivered in the House of Representatives last night, is estimated to be £3,095,000.
More than half of this shortage the Government proposes to meet by reductions in State expenditure. The balance, £1,660,000, must be provided out of additional taxation. Half of this is expected from the increased Customs duties already announced, and the rest will be raised by further new taxation, which may be summarised as under:— Income tax raised by 1 0 per cent. Amusement tax reimposed. Totalisator duty doubled. Duty on "talkie" films increased. ' . ■ Sundry stamp duties raised.
"Having carefully combed out the expenditure," says Mr. Forbes, "the most the Government can do is to endeavour to place the additional burdens as equitably as possible."
Mr. Forbes* proposals provide for v an estimated surplus of £246,000.
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Auckland Star, Volume LXI, Issue 174, 25 July 1930, Page 8
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160MR. FORBES, FIRST BUDGET. Auckland Star, Volume LXI, Issue 174, 25 July 1930, Page 8
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