NEW SCALES ON INCOMES

New Zealand Herald, Volume LXXIII, Issue 22489, 5 August 1936, Page 15

NEW SCALES ON INCOMES

all pensions raised extended programme of works MORE PROVISION FOR DEFENCE The Budget for 1936-37 is balanced at £31,067,000, allowing for a surplus of £13,000. The statement which was brought down in the House of Representatives last evening by the Minister of Finance, the Hon. W. Nash, announces alterations in the scale of income-tax, estimated to produce a total increase in the yield of £1,4119,000. Reintroduction of the graduated land tax is estimated to produce a revenue from this source of £1,300,000, compared with £458,873 last year. The vote proposed for pensions is £5,480,000, an increase of £1,710,000 over last years expenditure. A general lifting of rates is announced. Several types of pensions or allowances are intended to be restored and pension schemes are to be instituted for deserted wives with children, and invalids. The new rates and schemes are to be retrospective to July 1 last, while a national health and super- 1 annuation scheme is foreshadowed. The Public Works programme covers a wide range, including railway construction, buildings and land development, and under the Government's proposals a total of £10,450,000, including maintenance of highways, will be required for the year. The defence estimates provide for an expenditure of £1,264,530, or an increase of £250,160 over the sum expended last year. The most notable increase is in respect to naval defence where an additional £ 1 89,385 has been allotted. The main highways expenditure is estimated to reach approximately £3,050.000 for the current year, inclusive of permanent interest and subsidy charges. The roads vote had beeu set down at £765,000 out of capital funds, with some little assistance from current revenue. An allocation of £320,000, augmented by a substantial provision from the Consolidated Fund for works not considered suitable for the expenditure of loan money only, has been provided for drainage, irrigation, flood prevention and reclamation. Substantial provision will also be made for general land development and the settlement of unemployed workers on the land. The estimated amount available for the Unemployment Fund, £4,616,71 1, including the balance of £406,711 brought forward, is expected to be sufficient to meet the estimated expenditure for works, sustenance and other charges on the fund.