NATIONAL ACCOUNTS.

Auckland Star, Volume LXV, Issue 204, 29 August 1934, Page 6

NATIONAL ACCOUNTS.

One item of outstanding interest in the Finance Minister's so-called balanced B^p c * is that referring to the payment of £9,777,000 for "debt services," which term is, I presume, another name for our national debt. This is a roundabout way of saying that the national debt of this Dominion has cost the taxpayer (that is, everybody, man, woman and child) during the last year approximately 47 per cent of the total receipts from taxation without in any way reducing the amount by one penny. Indeed, Mr. Coates has balanced the Budget by the simple process of adding to the national debt. To say the least of it, this condition of affairs reflects discredit upon tho?e whom we have entrusted with the management of public affairs. If the average business man balanced hie private budget by still further increasing his liabilities hie position would soon become intolerable and would ba condemned by everybody with a grain <M common sense. WM. GObb.