THE BUDGET FOR THE YEAR

New Zealand Herald, Volume LXIX, Issue 21276, 1 September 1932, Page 10

THE BUDGET FOR THE YEAR

The Prime Minister, in discussing the prospects for the session to open in three weeks' time, says that the Budget and the Estimates will be ready for early presentation. They should be, because in a normal year they would have appeared before this, and everything should be ready by the time the House meets. It should be possible to estimate the prospects for the year with more accuracy than usual, because even if the completed accounts for the first six months are not available, the Treasury should have a good idea of what the results have been. The estimates, the Prime Minister declares, will reflect further substantial savings, for they are being prepared in the light of the National Expenditure Commission's report. It is sincerely to be hoped this means more than lip service to the country's outstanding need, departmental economy, the only avenue of approach to relief from the crushing burden of taxation under which it labours. The commission's report has been in the hands of the Government for weeks now, and nearly three-quarters of the financial year has been available for the application of what it recommends. Tho Prime Minister says that most of the proposals contained in it can be put into effect without legislation. That is to be expected, since it has been considering departmental operations in detail. "What was required was instant and decisive application of its remedies. In tho tentative plans for the year formed during the short session, the Government resigned itself to a deficit of £2,000,000 —reduced to that figure only by borrowing from the banks. There is no reason why it should remain in a state of resignation, every reason why all available efforts should be made to bring the accounts nearer to a balance. The Budget survey will be made late, and it is necessary that it should show substantial evidence of the economy measures devised after detailed inquiry having been given practical expression in the Estimates.