THE BUDGET IN BRIEF.

Hawera & Normanby Star, Volume LVIII, Issue LVIII, 3 December 1909, Page 5

THE BUDGET IN BRIEF.

Starting wifli a deficit of £15,762,000 Mr Lloyd-George proceeded to increase -it by promising to contribute £600,000

to the fund for the improvement of roads, and by voting £300,000 for schemes of labor exchanges, afforestation enquiries, and the like. As he wanted another half-million for contingencies, he made out a prospective deficit of £17,200,000, for which old age pensions were responsible for £8,000,000 and the Navy for £3,000,000. How was he to meet it? Left to his own mother wit to devise expedients for raising the necessary funds, LloydGeorge began by reducing the sinking fund by £3,000,000 a year. This still leaves nearly £7,000,000 available for paying off the debt, over and above the interest of £18,000,000 on a national ; debt of £696,000,000. He then balanced his acoount by imposing new or increased taxes as follows: — On motor cars and motor cycles £260,000 On petrol ... ... 340,000 On incomes (including super tax v 3,500,000 Death duties, estate duty, legacy and succession duties ... .1 2,850,000 Stamp duties \ 650,000 Liquor licenses 2,600,000 Land values, reversions of leases, and mining royalties 500,000 Spirit duty 1,600,000 Tobacco -... 1,900,000 £14,200,000 ■ The following year the yield was expected to be £21,655,000.