MR COATES SAILS

Evening Star, Issue 22004, 13 April 1935, Page 14

MR COATES SAILS

BUDGET SURPLUS OF £1,500,000 ANNOUNCED ALL USED TO LIQUIDATE EARLIER DEFICITS OPPOSITION TO MEAT LEVY INDICATED fPer United Press Association.] AUCKLAND, April 13. The Rt. Hon. J. G. Coates sailed by the Rangitane at 10.45 this morning, accompanied by his wife, Bliss Blontague, and Mr Verschaffelt. _ Blr Coates stated that it was clear from the incomplete , public accounts that there would lie a surplus bf approximately £1,500,000 for the financial year. This was very, satisfactory, but it should be understood that it was due mainly to windfalls—namely, death duties above the average and profits from the sale of gold. Apart from these the revenue and expenditure did not appear to have varied uiuch from the Budget estimates. “ I may add that the surplus has been automatically applied in redeeming debts representing a portion of the accumulated deficits carried forward from the years' 1931-32 and 1933-34, amounting approximately to; £2,500,000. As the result of this surplus the accumulated deficit has been reduced to £1,000,000, which amount remains to be made good out of future surpluses.” Interviewed, Blr Coates said the result of the negotiations in England would determine the future of the meat industry in New Zealand/ He implied that tlie imposition of a levy on meat imports would be resisted, and said that adherence to the spirit of the Ottawa Agreement was preferable. Blr Coates appealed to all Reform supporters to adhere to the arrangement for continuation of the Coalition over the 1935 General Election, as compie ted between himself and Blr Forbes. He hoped the supporters of both leaders would sink their differences and cooperate in a spirit of gehuine public duty, supporting the candidates selected. , •