POINTS FROM THE BUDGET

New Zealand Herald, Volume LXXIV, Issue 22846, 29 September 1937, Page 14

POINTS FROM THE BUDGET

State Advances Mortgages hold by tlie State Advances Corporation total over £51,000,000. Coronation Celebrations

Coronation celebrations in Now Zealand cost the Government £17,500, according to a vote appearing in the Estimates.

Wages Barometer Revenue from wages tax during the past year indicates that in salaries and wages alone an increase of £12,000,000 has taken place. Gross Debt Per Head

The gross public debt increased by £5,109,102 during 1936-37, making the total £287,670,200 at March 31, 1937. The incroase was' approximately £3 4s lid per head of the population, bringing the total to £lB2 15s 5d per head. More Effective Publicity

The New Zealand Government's overseas publicity work has been reviewed in order that improvements may be introduced with a view to making a more effective appeal both to potential consumers of produce and to prospective tourists.

Expenditure On Housing "Up to the present expenditure on housing amounts to approximately £250,000, but there are commitments for land purchased and work started amounting to about £1,250,000," the Minister said. "By the end of the financial year commitments will probably amount to £3,000,000, and expenditure to £1,500,000."

Remaining Anomalies Administrative procedure has revealed one or two anomalies in the legislation dealing with invalidity pensions, and steps will bo taken during the present session to remove them. They are associated with the country in which the invalidity originated and the period of absence allowable overseas. ■ .

■More Radio Beacons An allocation of £20,000 has been made for continuation of the programme of installing radio beacons at suitable lighthouses on the coast. At the same time, lights at the stations are being changed from incandescent gas to electric light, and current wil\ also be provided for the residences of keepers. "Police Force Increased The numerical strength of the police force has been increased by 175 men, 125 being required to enable the weekly working hours to be reduced from 56 to 48. A reduction to 40 hours a week was not found practicable, and as som* compensation for this an increase of 10s a week in pay has been granted to all members of the force. Cost of Public Works Public works expenditure shows an estimated rise of £6,915,000 compared i with last year's estimate. A big in- ! crease in roading expenditure is intended, it being proposed to start an extensive programme for back block areas immediately, up to the limit of available competent labour. On hydroelectric extensions, this year's estimated expenditure showif an increase of £935,000 over the estimate for last year. Minister's Tour Abroad While abroad, the Minister of | Finance conducted preliminary trade negotiations with representatives of tho , Governments of France, Germany, Russia. the Netherlands, Denmark, the Irish Free State, Palestine, Yugoslavia, Southern Rhodesia, Canada, the United States of America and Panama. There are reasonable hopes that as a result of these negotiations further markets will be developed for New Zealand produce. Licensing of Industries "The Bureau of Industry was set up as the working instrument through which plans of reorganisation could be formulated and developed and new industries fostered," Mr. Nash said. ''The bureau has been functioning for eight months and a great deal of preliminary work has been done. Fifteen industries have been gazetted by the Minister of Industries and Commerce as subject to licence, while a complete plan for' the rehabilitation of the flax industry has been brought to finality with the concurrence of those encaeed in the industry." Secondary Industries "If this Dominion is to increase or even maintain her existing population in remunerative employment, secondary industries must receive more attention than has been the case in the past," Mr. Nash said. "This does not mean the bolstering-up of uneconomic enterprises by subsidies or tarijfs, but the intelligent control and development of industries which this Dominion should be able to carry on to meet the requirements of her own population and to provide for export those commodities in respect of which our Dominion possesses natural advantages." Increased Revenue Increases in revenue are anticipated in practically all items of taxation. Customs duties, estimated at £10.500.000. represent an increase of a little over £1,000,000. The estimated revenue in income {ax is £7,500,000, compared with receipts of £6,619,000 in the previous year. A 20 per cent increase in sales tax returns is anticipated. based on an estimate of £3,650,000, an increase of £605,000 compared with last year's receipts. Provision is to be made in impending legislation for relief in land tax where hardship is proved. The revenue from this source is estimated at £1,000,000 as against £1,048,000 received last year An increase of £555,000 is expected ™ o^S m ' a - vs revenue, estimated at £3,005,000. Interest In Dominion

Opportunity was taken by the Minister of Finance when in London to discuss the Government's policy with the highest financial authorities, who were well informed on' matters affecting New Zealand. According to the Minister, the development of the Government's policy was being patched there with keen and sympathetic interest. Although the Government did not contemplate borrowing again in London, other than for necessary redemption purposes, it was satisfactory to note, he said, that New Zealand's credit stood very high in tho eves of the, investor. The only loans raised in London by the present Government had been for conversion purposes, the last loan, incidentally, being on as favourable terms as had been accorded to the Dominion during the present century.