TAXATION QUESTION.

Manawatu Standard, Volume XLIV, Issue 1076, 24 July 1924, Page 5

TAXATION QUESTION.

FURTHER REMISSIONS PROMISED. The Prime Minister, in the course of tho Financial Statement last night, said: “Tho all-important question of taxation has continued to receive carcfid and detailed consideration. In pursuance of the policy the Government has adopted, of gradually reducing taxation as conditions permitted, you will again be asked to approve of further remissions. These will be adjusted in such a manner as to give the greatest relief to all classes of the community, and, at the same time, to stimulate tho productive powers of the Dominion. On the present basis of taxation the revenue for the current year would probably produce £28,857,620, whilst the expenditure is estimated at £27.505,060 leaving a credit balance of £1,352.560. The remissions granted last year are valued at £1, 200,000, and this year, after providing for interest and debt-reduction charges, as well as for the efficient and economical administration of departments and services, I hope to be able to ask Parliament to reduce tne burden of taxation by about £1,000,000. particulars of which will be supplied in the legislation dealing with tho subject. I must, however, again remind those who. indifferent as to cost and unablo to say where the money is to come from, clamour in one voice, for increased expenditure and a reduction in taxation, that they cannot have both. I quite recognise that, as the population grows and the national wealth increases, the expenses of Government, no matter how economically administered, must expand, but that expansion must not bo greater than tho increase in income. There should bo a sufficient margin to ensure safe finance and to provide some contribution towards reducing the dead weight of our war debt — one of tho best means of easing the taxpayer.”