MAIN HIGHWAYS FINANCE.

New Zealand Herald, Volume LXVIII, Issue 20891, 5 June 1931, Page 13

MAIN HIGHWAYS FINANCE.

INCREASE IN TAXATION. NEW CHARGES ON THE FUND. The taxation of motor vehicles, for the purposes of tho Main Highways Funds, amounted last year to £1,840,590, an increase of £329,800. This comprises customs duties on tyres and motor spirits, licence fees and fines, but not customs duties on chassis and bodies, which are reserved for 'tho ordinary Budget. Tho original estimato was £1,915,000, but this was based on the proposal to increase the petrol duty to 7d a gallon; it was afterward reduced to 6d. The amount transferred to the main highways account was £1,742,194, boroughs received £83,012 of petrol tax and expenses of collection and refunds amounted to £17,555. Tho total revenue of the highways revenue fund, excluding a repayment of £150,000 from the construction fund, was £1,907,380, as against £1,486,536 in tho previous year. New charges imposed on tho account by last year's legislation were £61,300 as interest on loan money from tho Public Works Fund and £219,315 in subsidies on local authorities' rates. ThesA were formerly paid out of oidinary icvenue. Including the discontinuance of tho former grant of £35,000, tho total relief to the Budget was £315,615, or almost exactly tho estimate of £316,(W0. Tho increase in taxation did not provide any margin for additional expenditure on highways maintenance. The year's total was £1,047,182, as against £1,224,555 in 1929-30. Expenditure out of the loan fund on new construction was £757,906, as against £1,097,148.