MAIN HIGHWAYS FINANCE

Taranaki Daily News, 8 June 1931, Page 8

MAIN HIGHWAYS FINANCE

INCREASE IN TAXATION.

NEW CHARGES ON THE FUND.

The taxation of motor vehicles, for the purposes of the' Main Highways Funds, amounted last year to £1,840,590, an increase of £3-29,800. This comprises customs duties on tyres and motor spirits, license fees and lines, but not customs duties on chassis and bodies, which are reserved for the ordinary Budget. The original estimate was £1,915,000, but this was based on the proposal to increase the petrol duty to 7d a gallon; it was afterward reduced to 6d. The amount transferred to the main highways account was £1,742,194, boroughs received £83,012 of petrol tax and expenses of collection and refunds amounted to £17,555.

The total reyenue of the highways revenue fund, excluding a repayment of £150.000 from the construction fund, was £1,907,380, as against £1,480,530 in the previous year. New charges imposed on the account by last year’s legislation were £u1,200 as interest on loan from the public Works Fund and &M9,315 in subsidies on local authorities rates. These were formerly paid out or ordinary revenue. Including the d IS ’ continuance of the former grant of £3u,r 000, the total relief of the Budget was £315.015, or almost exactly the estimate of £316,000. The increase in taxation did not pin* vid-3 any margin for additional expend]-tur-s on highways maintenance. The year's total was £1,047,152, as against £1,224,555 in 1929-30. Expenditure out of the loan fund on new construction was £757,906, as against £1,097,148.