DOMINION FINANCES

Stratford Evening Post, Volume XXXXII, Issue 26, 26 March 1924, Page 3

DOMINION FINANCES

PRIME MINISTER’S STATEMENT.

The Hon. W. P. Massey, in switching on the electric light supply at Taumarunui, predicted that in another twelve years'the King Country centres would be cities of no mean size, with a sevenfold population. Dairying business in the Taumarunui district in ten years had made wonderful strides, to say nothing of sheep, cattle, wool, and the fat stock output. Although it had been a dry season an output of eighteen million tons of butter might still be reached with a good autumn, and with a few weeks to go thj Dominion's exports should see the figure at £50,000,000; already for eleven months they had reached nearly £44,750,000. ’ Speaking of the advances to settlers and workers, he* said the advances for homes for the last year would reach £6,000,000; already the department had distributed £5,806,932 among 6877 people. The Premier said he had hopes of still raising a few more millions for this ■ purpose, and would go ahead with the scheme. He had no intention of stopping. Speaking of Government finances, he said he could not tell what the surplus would be, but they were going to have a substantial balance on the right side of the ledger. He spoke of reduction of taxation to settlers and the people of the towns and cities, the duty off tea, and the reinstatement of penny postage. He hoped to be able to make further reductions in taxation without crippling the finance. Hearty cheers were given by 2000 people who turned out in the wet to welcome the Premier.

* Speaking at Matapuna in the afternoon, Mr Massey said he would not ask for loan money for another month or two. He did not want to pay the same price a s Australia, 6 per cent., free of State income tax. He hoped to get better terms.