Criticism Of Delay In Presenting Budget

Greymouth Evening Star, 23 August 1949, Page 4

Criticism Of Delay In Presenting Budget

WELLINGTON, This Day. was no significance in the choice of August as the time for presenting the Budget,. and he had noticed that many other co }?ntries produced their Budgets in that month, the Minister of Finance, Mr Nash, told last evening s meeting of the Wellington branch of the New Society of Accountants. He was replying to a ues^ on , b^a^ n J r o r ’ who said that many accountants had to produce statements as at March 31, including taxation, but they did not know the rate of taxation until August, and he pointed out that the United Kingdom Budget was presented replying, added that, the New Zealand accounts were presented in .a more complete form than in the British. Budge . Later presentation of the Budget, said Mr Nash, facilitated the presentation of accurate estimates. . „ Mr Nash said he agreed that information on public accounts should be supplied as early 2S In the course of his address, Mr Nash said an extremely important function of the Budget was to act as a balance or counterweight in the financial pulsation and movement of the nation. Its efficiency in the discharge of that function ought to be measurablezbv its success in ensuring stability of employment, tending neither to deflation nor inflation.