FUTURE OBLIGATIONS

New Zealand Times, Volume XLIII, Issue 10137, 27 November 1918, Page 8

FUTURE OBLIGATIONS

EMPHATIC NOTE OF WARNING.

I desire to impress upon honourable members the magnitude of the additional expenditure to which the Treasury would be committed if the pressure that is being brought to bear on tbs Govern-

merit from various parts of the Dominion uere to bo acceded to. Tho Government is urged to undertake extensive water-power schemes throughout the Dominion at an estimated expenditure of over <£6,000,000. A demand for additional education requirements, amounting to ,£3,000.001) for new buildings. etc., has been made from various quarter's. Such amounts are entirely beyond tho capacity of tho country to provide at present. The interest and sinking fund charges on war loans amount annually to. say, .£3,300,000. Increased pay and war bonus to officers of the Government service, in addition to the ordinary increases duo to tho classification —say, .£1.000.000. Balance of tho authorisation for railway improvement, .£2,667.000.

The above services would represent an additional expenditure of £13.967,000 in round figures, and when we consider that these items aro in addition to other heavy burdens which tho country is shouldering in connection with the war. and that I have made no mention of the annually recurring expenditure such as for public works, I feel sure that honourable members will fully recognise the difficulties and complexities of future finance if all these services are to bo provided for. I feel it my duty to utter an emphatic note of warning that it is imperative that honourable members and tho public should exercise a restraining influence until the country knows what its full war responsibilities are, and these can only be ascertained after peace has been signed, and our citizen soldiers have returned to the Dominion anti demobilisation has been fully completed. ESTIMATED REVENUE, .£20,185,200. I now proceed to give an estimate ot revenue for the year 1918-19, under the main heads of each of the important departments ; £ Customs , 3,500,000 Railways 4,725,000 Stamp and death duties 1,837,000 Postal and telegraph 1,900,000 Band and income tax 6,650,000 Beer duty 225,000 Registration and other fees ... 101,000 Amusement tax 35,000 Marine 5 37,800 Miscellaneous 900,000 Territorial revenue 168,600 Endowment revenue 95,800 Other receipts 10,000 £20,185,200 Tie foregoing estimate is .£21,021 below the receipts of last year. I estimate a surplus for the year 191819 of £178,965, made no as follows: ' £ £ Estimated revenue, 1918-19 20,185,200 Estimated expenditure 19,003.235 Estimate for supplementary estimates... 1,000,000 Estimated surplus £178,965