NEW ZEALAND FINANCE.

Lake County Press, Issue 2636, 15 June 1916, Page 5

NEW ZEALAND FINANCE.

The Coming’ Budget. New Zealand Loan Probable. And Heavy Taxation. A million a month is about the rate of New Zealand’s war expenditure for the year now in progress. Of course there must be a large loan from somewhere. The Government has already been urged to get some of the money, say five millions or so, on the New Zealand market. It is not unlikely at all that some such proposal may be made. In addition to the increasing of war pensions’ charge, there is a considerable bill of interest and sinking fund on borrowings to be met out of revenue, and to meet these permanent charges more revenue must be obtained. The Prime Minister has replied often in the House to clamorous demands for more taxation of war profits. “ Wait till you see the Government’s proposals,” he has said, and he has said it in a tone expressive of confidence that even the advocates of the most ruthless taxation, short of robbery of war profits, will be satisfied with the Government proposals. Equally his remark may be interpreted as having some bearing on a proposal to corral some of the surplus funds by way of loan. One thing only is certain about the Budget, that in it Sir Joseph Ward will have very satisfactory information to give to the House about the position of the country’s finances. —Wellington correspondent Southland Times.