£1,168,890 Credit In Employment Fund

Northern Advocate, 21 July 1938, Page 9

£1,168,890 Credit In Employment Fund

[Special to '‘Northern Advocate .” 3 WELLINGTON, This Day. Stating that the fact that modern States require tc- take special measures to promote employment is no new phenomenon, although it is only since the last depression that the problem has such an important place in practi- ; cal politics, the Hon. Walter Nash j made reference in his Budget speech | last evening to efforts made tc restore i men to employment in New Zealand, i Claims Unemployed Now 8300. i “In the depths of the depression.” he j said, "the number of registered unemployed rose to as high as 79,500.; Today that number has been reduced to a total of 8300. In addition, there are approximately 8000 men who, on account of their physical inability to work, should not qualify for relief on account of unemployment, but until such time as the social security legislation is passed and the necessary administrative machinery established, assistance is being provided for them from the Employment Promotion Fund. A number are suffering from temporary illness and after a time will be tit for work again. The majority are not totally and permanently incapacitated, and thus do not qualify for an invalidity pension, but at the same time there is very little prospect of their reabsorption into normal industry. These men will be more satisfactorily'' dealt with under the social security proposals.” Largely Increased Revenue. The balance in the fund at the beginning of last financial year was £253,000 which, together with revenue from taxation amounting to £5,105,000, interest and ether miscellanepus receipts of £40,000, provided the sum of £5,398,000 for the promotion of employment during the year. Of the taxation revenue of £5,105,000 the sum of £448,850 was received from, the registration levy, £3,027,480 from wages-tax, and £1,628,670 from the special charge on ether income. . . . In last year’s Budget it was estimated that the total revenue would amount to £5,180,000. The actual revenue was £5,145,000, which is £35,000 less than' the estimate, and represents a variation of less than 1 per cent, of the total collections. Compared with the previous year, the revenue from taxation shows an increase of £BBO,OOO, equivalent to 20.83 per cent. The increase in the revenue from wages-tax was £436,650, or 16.85 per cent., and represents an increase during the year ended March 31, 1938, in the amount of salaries and wages paid to persons liable for the tax of no less than £13,100,000. The true increase in the; revenue from the special charge on“other income” will be £398,267, equivalent to an increase of 32.36 per Cent. This sum represents an increase during the year ended March 31, 1937. in the incomes of persons liable for this charge of £12,000,000. Disbursements from the fund for last year totalled £4,239,456, made up as follows; Wages and other payments under various schemes, £2,519,523; food,' clothing and other necessities, -£7564; sustenance payments, £1,349,162; sundry loans and grants, £72,919; Christ'mas bonus and other miscellaneous payments, £55,288; administration expenses, £235,000. Big Sum for Expenditure. Revenue for the current year is estimated at £5,377,000, being an increase of £231,900 over last year’s receipts. The balance in hand at the April 1 last was £1,158,890, so that the sum of £6,535,890 will be available for expenditure out of the fund during the year. The increased resources available has enabled the Government to offer work to practically all physically fit men who were unemployed. The results that have been achieved in this direction arc most satisfactory, and before long all the fit men registered should be in full-time work.