A FINANCIAL CRITIC.

Otautau Standard and Wallace County Chronicle, Volume IV, Issue 168, 21 July 1908, Page 2

A FINANCIAL CRITIC.

WELLINGTON, July* 16. " I challenge the Minister of Finance to gay that m his Financial Statement he has not made a blander," said Mr James Allen, the financial critic of the Opposition, m the House of Representatives this afternoon. "The Prime Minister told the House that a public works expendiure of £2,350^000 was proposed. Then he stated as follovrs: — 'In order to enable provision io be made for tliis sum, I . propose to pay to the Public Works Fund from the Consolidated Revenue, £800,000, and to raise' a loSn for these- purposes of £1.250,000. This, with the £191,800 available from last?" year's loari and the £200,000 authorised under the Post Office Savings Bank Fund Investment Account, out of which ,-the creation of post offices m Auckland arid Wellington will be provided for, gives a total of ''Way 6 and Means for the current yearof £2,44i,800.' I ask the House if that is the current total of Ways and Means for the coming year.'* The Prime Minister : Of ueW funds, it is absolutely. Mr Allen: Is the suttKof £191,800-. new funds? '*■■ „*."/..-..- ■"'* ■.'**• i The Prime Minister : Yes, absolutely.. Mr Allen : Tlie Prime Minister has blundered.. ..He. has omitted .to 'ai-sy forward the balance of Way^'tfiid Means* frum last year. „ ■ -- y\ ; - ■•-• y ' ' The Prime Minister: Absolutely untrue. Mr Allen: The Prime Minister has misstated the position by hot carrying forward hie balance, which* as set down m an earlier part of- the Statement, amounted to £152,563. i.,/' .... . 'Yy , 7 The "Prime Minister: Yourould not have listened to what I, said. y *' Mr Allen :' -It lnlsled evety. man' m the House. We were, told that the total VTays and Means for public Storks amounted to £2,441,800, whereas the amount, really available waf^|^S94,363. I do not. know whether . the Prime Minister prepared 'the Statement*, or whether on*-., of his .officials prepared, if. I say^that it would* naye r been more honest 1 to havey«tated'in the Biidgbt the total available Ways aridjVlekns, which has not been done. I haVe been misled, and> other members have Icen Misled as well. The Hon. R. M'Nab replied to Mr James Allen briefly. "If members look at the Budget," he said, "they w ill -see that the paragraph quoted' by Mr Allen is under tlie heading 'Additional Funds.' Earlier m- the Statement it was stated that the baliin^e m hand was £152,563. The position was made clear, .and if any explanation- was needed the Prime. Minister gave it <.n July 9, when he spoke m the House as follows': — "Hie balance o£ last 'year's loan is £191,800; the proposed transfer from the Consolidated Fund, £800,000 ;. the new loan of 1908. £1,250,000; and the authority under the Post Office Savings Bank Account,. 1907, £200,000. Tl-at gives us a total of £2,441,800. That is, " of course, without the balance that vas avaijublc iv the Public Works Fund on iT-jgeh 31, 1908, of £152,562. That gives a total of Ways and Means for the year of £2,594,362." .