$20m Drop In Roads Board’s Income
(New Zealand Press Association)
AUCKLAND, July 24.
Income lost by the National Roads Board meant that reading works planned for the next five years would take eight years, the chairman of the board, the Minister of Works (Mr Allen), said in Auckland today.
He said the board expected a rise in mcome from tax on a 5 per cent increase in petrol consumption each year, but last year there was no increase in consumption and none was expected this year. By the end of this year, because of the loss of petrol tax income and the diversion of fees from motor-vehicle registration, the board would have $2O million less than expected over a two-year period. Both the board and the
transport industry had approached the Government over this and had pointed out the position of the contracting industry, which had been geared for the works to be paid for from the $2O million. Mr Allen said the board’s loss of income was a result of the measures taken to dampen the economy.
Asked what prospects the board had for improving its finances, he said the question was one for the Minister of Finance (Mr Muldoon).
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Bibliographic details
Press, Volume CVIII, Issue 31740, 25 July 1968, Page 22
Word Count
201$20m Drop In Roads Board’s Income Press, Volume CVIII, Issue 31740, 25 July 1968, Page 22
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