BUDGET DEBATE

Hawera Star, Volume XLIX, 23 August 1929, Page 9

BUDGET DEBATE

CONTINUED TO=DAY. GOVERNMENT’S LEGISLATIVE PROGRAMME. HON. A. J. STALLWORTHY ASKS FOR TIME. (By Telegraph-Press Association) AVEOLLINGTON, Aug. 23. The financial debate was resumed by the Hon. A. J. Stallworthy in the House of Representatives this morning, who said that he had recently seen a. statement that the Highways Board had a balance of halt a million. This was ah entirely wrong state of affairs, when there were .so many unemployed in the country. Air Stallworthy said that Air .Downie Stewart had made light of the fact that there had been a small deficit last year, but in one of liis own budgets he nad stressed the importance of balancing accounts. The present Finance Minister was setting out to balance the budget and to introduce a progressive programme of development. W’nen the Reform members- criticised Sir Joseph Ward for not having yet put all his election promises into effect, they should remember that when Sir Joseph Ward put these proposals before the I electors he had the right, to expect that if elected he would have three .years at least in which to develop his programme. Air Stallworthy said that he was confident the Prime Minister would be able, within reasonable time, to give effect to all his pledges. Referring to the Government’s land proposals, Air Stallworthy said that they should result in a reduction of the speculative values of land in New Zealand' and this should ultimately be a Godsend to the country. At the present time there was a tendency for some producers to he delivered into the hands of the- money-lenders, as a result of their holding properties of greater size than they could afford. He referred to the axiom ‘ ‘Who owns the land, owns the people,” and he stated that under the new system the state he had outlined should cease to exist. The debate had indicated 1 ' that many members did not have a clear outlook on the subject of taxation, which should be based on payment for services rendered by the State, and the exemption from taxation that the large- landowners had enjoyed in recent years did not comply with that principle. Air W. J. Jordan (Manukau) said that there was a point in regard to mortgages to which he would like to draw atention. The Prime Minister had stated that he would borrow at 4) 1 per cent, and advance money at 4-3 per cent. He had not been able to- obtain as favourable terms as lie had expected, but, even so, it might have Keen possible for him to have advanced money with some margin between the rate at which he raised and advanced it. He had raised money at £5. 0s Id per cent, but six and even 6) per cent-, was mentioned as the rate on advances.

Al-r D. MciDougall (Mataura) expressed the opinion that the increase in primage duty would have little effect on the working man’s family, even if, it were passed on, and he named a list of foodiStuffs and 1 other necessities Hi at did not have to be imported and on which therefore no duty had to be.paid. The House adjourned! at I p.m.