RAISING FUNDS

Evening Post, Volume CXIII, Issue 24, 29 January 1927, Page 9

RAISING FUNDS

FAMILY ENDOWMENT

FOR NEW SOUTH WALES

SCHEME TO COST £8,000,000

(United Press Association.—Copyright.) (Eeceived 29th January, 8 a.m.)

SYDNEY, This Day.

The; Parliamentary Labour Committee appointed to devise means of finalising the proposed family endowment scheme, has definitely adopted a State scheme providing for the payment of ss,a week in respect of children up to the age of 14. At least £8,000,000 will' be. necessary to finance the scheme. Of this £6,000,000 will have to be borne by the industries of the State and the balance by the Treasury. The wage and endowment limit was, fixed at £400 a year, A proposal to raise revenue by the establishment of a State lottery and the licensing of startingprip' betting shops was rejected as but workable. '

Instead, it was agreed to impose a graduated land tax, with an oxemption of £5000; to increase stamp and probate duties and increase taxation upon higher' incomes. Land taxation mil bring in an extra million; stamp and probate duties £375,000; higher salaries £400,000; and taxation from other sources £225,000, making the £2,000,----000 required from the Government. A suggestion that industries working under, State awards should provide 6 per cent, of their wages bill and industries under Federal; awards 5} per cent, of their wages sheets will be placed before the caucus meeting. The New Zealand scheme of family endowment, provides for the payment of 2s per week per child in excess of two. The estimated cost in. round figures is £260,000 per annum, assuming that 50,000 children are eligible. ■