WAR AND FINANCE

Southland Times, Issue 17454, 22 June 1915, Page 3

WAR AND FINANCE

SUBSTANTIAL LOAN REQUIRED. SPECIAL TAXATION PROPOSED. A GENERQUS PENSION SCHEME. (Per United Press Association.) DUNEDIN. .7 line 21. The Hon. .1. Allen. Minister of Finance and Defence, informed a Star reporter to-day that one of the first questions to be submitted to Parliament would be the matter of a war loan. Although it was impossible for him to go into details at present, he could say that the loan would bo largo, and that war taxation would have to he imposed. The original war loan obtained from the Imperial authorities was £2,000,000. That sum has been spent, and a great dear more besides—■ over £BOO,OOO more. The smaller sum had been financed by other means. It was, therefore, necessary to introduce a War Uoan Bill early in the session, followed by a War Tax Bill. The proposed methods of taxation for war purposes have yet to be considered finally by Cabinet, and ho was quite unable to give any details of the proposals. As regards military pensions, legislation will he introduced this session for the purpose of establishing a new scale, “I cannot give details," he said. hut the principal part of the Hill has been practically agreed to by Cabinet. The Bill will not he the least generous measure submitted to Parliament. On the contrary, it will b<? of a generous character." Mr Allen does not expect a lung session, and anticipates that absolutely necessary legislation only will be dealt with. There would be no special Educa- ( tion Bill this year, anil he was not aware of any Land Bill to be brought down. He believes that the business of Parliament will he confined to essential measures, and thinks that the session will he a short one.