FINANCIAL STATEMENT.

Hawera Star, Volume XLV, 24 July 1925, Page 9

FINANCIAL STATEMENT.

TO BE PRESENTED TO-NIGHT

REDUCTION IN TAXATION. A BUDGET FORECAST. FROM OUR PARLIAMENTARY REPORTER. WELLINGTON, July 24. The Financial Statement, to be presented by the Hon. W. Nosworth.y (Minister for Finance) to-night, is not expected to contain any unusual features, but will survey the position carefully and give a good deal' of. information on the -financial operations of the Government and review appreciatively Jibe policy of the late Prime Minister in bringing about improved conditions since the war. Chief interest will centre in the Government’s proposals to further, reduce taxation, good opportunity being afforded by last year’s surplus of £1.235.000. It is expected that the biggest reduction will be shown in connection with income tax. The Government is understood to favour readjusting the debenture taxation with a view to”relieving the difficulty of securing money for private borrowers, owing to the attractiveness of local body debentures bearing a flat rate of interest. Apparently no change is contemplated in the land tax. Financial 1 provision is to be made to enable some of the Government’s proposals to liberalise the pensions system to be carried out this year. The debt redaction scheme, as indicated in the Government’s measure now before the House, will be included. An interesting problem is involved in the heavy local body borrowing. It is not expected that the matter can receive legislative attention this session.