FINANCIAL STATEMENT.

Taranaki Herald, Volume LXVII, Issue 16547, 23 September 1919, Page 7

FINANCIAL STATEMENT.

AN INTERESTING FORECAST

BT TELEGRAPH. —OWN CORRESPONDENT, WELLINGTON, Sept. 28. The financial statement to be brought dbW by Sir James Allen to-night is understood to contain little of a stavtl- 1 ing nature. One of the most important points is in regard to loan renewals of which over ton millions are falling due in 1921. Of this total 9J millions fall due in New Zealand, in fact as far as the loan, renewals outside the Dominion are concerned the first big obligation is not due until 1924 when £1,721,000 will be due in London. The big increase in land and incometax on tile figures of last year is not expected to bo repeated this year, for last year’s record was caused, to .some extent, by the carrying over of sonic huge assessments from a previous period. Receipts from tho source this year are estimated at £7,360,000. The influenza epidemic is responsible for one unusual item in this year’s statement for it is understood that between £60,000 and £90,000 per annum will be required to provide for epidemic widows and orphans. Another item shows that the amusement tax is now realising £40,000 per annum. The educational policy- will he disclosed in the budget and will show a change in the method of appropriating money for educational huilding.s and sites. Staffing and teachers’ salaries will also be dealt with, and in this connection it may be recalled that Mr. Massey said dn the House recently that the educational vote might be found to exceed £1,000,000. Reference will be made to Samoa and the change in curency there, and the trade relations; also to local housing and hydroelectric schemes. The policy of the Statement in regard to the two latter matters will be left for the Bills on the subject. Proposals to relieve taxpayers by the use of accumulated surplus are contained in the Budget, which will also deal with discharged soldiers’ settlement transactions. The position regarding agricultural industries and the Commerce Department will be disclosed on lines already foreshadowed. The expenditure on repatriation of the soldiers, gratuities, and allowances are understood to bo estimated at practically the cost of a year of war. Provision is also made to aid Friendly Societies to meet tho burden thrown on them by the war, and finally the Budget will make reference to a national war memorial.