PREPARING THE FINANCIAL STATEMENT.

Evening Star, Issue 7623, 28 May 1888, Page 2

PREPARING THE FINANCIAL STATEMENT.

♦ [From Our Parliamentary Reporter.] WELLINGTON, Mat 28. Ministers were in Cabinet all Saturday and again yesterday, and have now completed the Financial Statement, whicn, should no unforeseen circumstances arise, will be delivered to-morrow night. The Statement, it is understood, will be about the same length as that of last session ; but it will at the first blush be of an unsatisfactory nature, inasmuch as a considerable deficit will be shown. The railway revenue shows a great falling off compared with last year's, and extra taxation must also be had in view of the depreciation in property and consequent lessened revenue from the Property Tax, which has to be levied next year. Taxation, I expect, will be increased all round, but sugar will not be touched, as this is intended as a neat egg for future emergencies. It is not intended to impose a small sohool fee with the view of helping the eduoational expenditure, nor will any mention be made in the Budget proposals of taxing the totalisator for revenue raising purposes. This latter question has not been considered in Cabinet; but the majority of its members seem disinclined to tax the machine, and would prefer its abolition. Apart from its taxation proposals, the Statement will contain some important reforms, which it is expected will take with the country.