MAD SPENDING.

New Zealand Herald, Volume LVIII, Issue 17831, 12 July 1921, Page 7

MAD SPENDING.

NEW SOUTH WALES FINANCES. I PRODIGAL LABOUR MINISTRY ! [fhom oub own correspondent. ] I SYDNEY. July 6 A year of what Mr- Oakes, the deputy-leader of the Opposition in New South Wales condemns as " mad spending," has left the State with a deficit on the national ledger of about half a ' million on a revenue for thp financial j year, which was over five million more j than that for the previous financial year, . That means that there is now an ac- | ' cumulated deficit of about two and a I quarter millions, apart from an ■ncubos i of loan debts of a magnitude which we ! i try to forget. The fact that the ir< ome I tax yielded considerably more than Ibe ! ! Treasurer had estimated alone preven'-t-d j j the position from being still worse. As i j a matter of fact, anent loans, Mr. Oakus , : reminds as bke Job's comforters, that the figures announced do not disclose tie | loan expenditure for the year, ar j be ; j add? that some idea of the profligate way j I in which money has been >:nder j | this heading is shown by the fact that | j for the seven months ended in January . I last the Labour Government disp>»;d of j | nearly nine million pounds, whereas ovf-r ! j a similar period under the previous Na- ! tional Government the amount was only j just over five million?. Mr. Oakes goes on i tc «>numerate a variety oi commitments, j j such as motherhood endowment, wheat compensation, and the added expendi- j ture, amounting to at least £1,000.G00, ; j which will be entailed by the *4 hoi r j week, and the extensive elimination of j Saturday work in the Government mt- j vice, as evidence that a severe restriction Ot Government spending alone can avert j a financial debacle. These figures and the deductions therefrom may be a .'.tie confusing to the average man in u:e Street, but out of it all he can j but little evidence of that consideration for his pocket, which was displayed Ly I Labour od the hustings.