Budget night

Press, Volume CXIII, Issue 33251, 14 June 1973, Page 1

Budget night

(Political Crspdt N.Z.P.A.) WELLINGTON, June 13. Parliament will be the focus of attention throughout New Zealand tomorrow night when the Minister Of Finance (Mr Rowling) delivers the first Labour Government Budget since 1960. Mr Rowling has given few hints about what he has in store but he is expected to announce increases in pensions-— probably $2 for single beneficiaries and $3.50 a week for married couples. He should also please the business community through the abolition of payroll tax. There may be some adjustment in tax rates for those on lower incomes and some reduction in tax paid on overtime and secondary employment earnings. Another area which will come in for attention is farm subsidies; some of these will be reduced. The Government has emphasised that it will not be working through “stop-go” policies, but Mr Rowling will probably announce some action to reduce inflationary pressures and increase productivity. He will also want to encourage greater savings in the community. The soaring price of land has been concerning the Government since it took office; and the Prime Minister (Mr Kirk), hinted on Monday that the Government would be taking action soon to curb land speculation.