FAVOURABLE COMMENT
o BALANCING N.Z.'S BUDGET. Favourable comment on the methods adopted by the New Zealand Coalition Government in order to balance its Budget are made in the "Statist," of the 10th October, just to hand from London. "The New Zealand Government, in preparing a supplementary Budget to meet the deficit in the national finances," says the "Statist," "has wisely attempted to relieve the plight of the farming community. Heretofore, the land tax has been a graduated one, and the burden has, of course, become the more onerous because the inflated land values of prosperous years have been maintained during a period of falling prices. "The new land tax will be at a flat rate, plus a tax on income. Help will also be afforded to farmers by the extra powers which it is intended to give to the Courts, which are already able to reduce, remit, or postpone interest payments or reduce the principal in vendor mortgages. Aid is also to be given to rural ratepayers and there are to be subsidies for fertilisers. Satisfaction is felt that the Government has firmly rejected any plan for loan conversion or compulsory interest reduction."
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https://paperspast.natlib.govt.nz/newspapers/KCC19311215.2.49
Bibliographic details
King Country Chronicle, Volume XXV, Issue 3404, 15 December 1931, Page 7
Word Count
193FAVOURABLE COMMENT King Country Chronicle, Volume XXV, Issue 3404, 15 December 1931, Page 7
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