LOWER TAXES POSSIBLE.

New Zealand Herald, Volume LIX, Issue 18175, 22 August 1922, Page 6

LOWER TAXES POSSIBLE.

RELIEF AT EtfD OF YEAR.

PRIME MINISTER'S HINT.

ECONOMY SHOWING RESULTS

[by telegraph.—press association.]

FOXTON. Monday.

The prospects of reducing taxation were mentioned by the Prime Minister in his speech at a valedictory banquet to Mr. E. Newman. M.P. Mr. Massey said he recently received the figures for the first four months of the present financial year. During those months, the revenue was £450,000 less than for the corresponding four months of last year, but the expenditure was lower by £1,200,000. Those were bard facts, and whatever might be said to the contrary, the effects of the policy of economy were being plainly felt.

The country would feel the benefit shortly. Long before the end of the year, expenditure would be well within income, and when that time came, he would be able to reduce taxation, and the country would feel the benefit.

Mr. Massey said he believed the country was now well round the corner in recovery from the depression. The prices of our produce had improved considerably. Wool was a lot better, and he predicted that the new season was going to open very well. Dairy produce had taken the place of wool as our chief primary industry, and the returning prosperity of the country was largely due to the energy and hard work of the people on the dairy farms of the Dominion. Mr. Massey concluded with a strong appeal to the electors to return at the coming election a stable Government, representative of the loyal element in the community, as against the extreme socialistic party. The meeting, which was. very enthusiastic, concluded with a hearty vote of thanks to the Prime Minister, earned with cheers.