THE OTAKI MAIL. WEDNESDAY, AUGUST 15, 1928. THE FINANCIAL STATEMENT.

Otaki Mail, 15 August 1928, Page 2

THE OTAKI MAIL. WEDNESDAY, AUGUST 15, 1928. THE FINANCIAL STATEMENT.

The Hon. Downie Stewart lasfcovcek presented to the House of Reprcsentatives another of his concise and business-like statements, which have distinguished him as .Minister of Finance. Next to the rather sad news that there will be no reduction in taxation (the burden whereof is somewhat lifted bv the cautious, intimation that a return to good times to come will make it possible to ease the situation later) .is his general review of the financial position of the business of the Government. There was a comparatively small decrease in the Departmental expenses last year, which wo are assure,l bv the Minister, was due to "rigid and'continuous supervision." The Departments have been watchful and jealous of promoting efficiency, in adopting modern methods and eliminating waste —it sounds too good to be true? There is truth, however, in ins remarks that a greater part of .he departmental expenditure consists of fixed payments in which no curtailment is possible unless some of the services rendered bv the State are eliminated or restricted.' This truth is more widely recognised than possibly .Ministers think, and ther e is a huge section of the community which actually desires the rest fieri on or reduction of State enterprise. Going on to the table ot allocation of'taxation receipt- pet head, and comparing 19.14 with U)2», it would appear that, on the whole. we are now less burdened limn bet ere the war. This is not, however, the case. The average man knows :>n<: feels the difference. The State i-. however, not wholly to blame for this. Substantial economies cannot lie ejected while the demand for increased social services is so insistent. It is net the extravagance of the Government which is so much at faint, out (lie almost universal belief that the resources of the Treasury are bottomless. The Minister of Finance so expresses it'his opinion. Other politicians have been somewhat shy of delimit although the Press throughout the country has discussed this aspect, of the fiscal position of New /ealnm, hundreds of times. Th,. Minister is to be congratulated for his cmirngc. ,