SURPLUS IN ROAD FUND

Press, Volume CI, Issue 29744, 10 February 1962, Page 12

SURPLUS IN ROAD FUND

Query By S.L Motor Union

Concern was expressed by the council of the South Island Motor Union yesterday over an apparent provision for an unexpended total surplus of nearly £2 million in the National Roads Board funds for 1982-63. “It looks as if a further ear marking of road funds may be in view,” said Mr B. E. V. Turpin (Otago), introducing the subject. “The Minister of Finance (Mr Lake) has told us that he expects to net about £4l million this financial year from the vehicle sales tax and special petrol tax, and in addition the roads board expects a surplus of about £2 million for the year,” said Mr Turpin. “We may be committed to something very similar for the coming year. “The greater the board’s reserve becomes, the greater the chance that some Minister of Finance—not necessarily the present one—will appropriate the reserve to fill a gap in his budget. “Some of the money, £1.054 million, is specifically reserved, while another £900.000 or so appears only as an expected surplus of revenue over expenditure,” he said.

“The £900,000 may be intended to be applied to any particular district where the need may arise, but we have had no indication of this.”

Mr Turpin moved, and this was adopted, that the union should draw the attention of its representative on the board (Mr W. H. Brown) to the apparent provision for a £2 million surplus, and ask him to get further information.