THE YEAR'S FINANCES

Evening Star, Issue 17036, 6 May 1919, Page 2

THE YEAR'S FINANCES

XI'.ED FOR GREATER PRODUCTION. Speaking in respect to the Dominion revenue fur the financial year ended Match 31 last, the Koiv A. M. Myers, Acting .Minister of Finance, emphasised, in view of our .heavy obligations, the vital necessity that existed for all classes of the community to take part in a united effort to increase production to the utmost extent, there being no guarantee that the abnormally high prices now being realised by all our staple products would be continued indefinitely. No country in the world, remarked Mr Myers, could possibly possess capita! other than that produced from day to day by its inhabitants, and therefore it could not too often be pointed out that it was the duty of each one of us to work and produce to the fullest extent of our ' powers. The net annual liability for war pensions at March 31 last was £1, 701,000. while the total payments for pensions, including that for war, old age, widows, Maori War, and miners, was over £2,000,00 U. By way of comparison the Minister stated that the gross pensions payable on account of the last four mentioned sections for the vear ended March, 1914, were £473,300. 'The impprtant question whether the present amount of taxation could be reduced or whether its incidence could' in anv way be altered would be dealt 'with by the Minister of Finance when he was presenting his next Budget to Parliament. Comparative statements of revenue and expenditure are as follow.: 1919. 1918. Customs £3,930,631 £3,364,308 Stamp and death duties 2,124,772 1,892,014 Postal and Telegraph 1,964,812 1,836,256 Land Tax 1,512,693 1,385,708 Income Tax ... 6,219,336 5,619,561 Beer duty 273,334 237,075 Registration and other fees ... 111,993 101,249 Marine 35,151 38,053 Miscellaneous.. ... 946,669 718,437 Territorial 202,754 205,643 National endowment revenue ... ... 108,824 100,493 Other receipts ... 45,928 39,202 Totals ...£22.352,372 £20,206,222