POLITICAL TOPICS.

Waipawa Mail, Volume XXXVII, Issue 7911, 26 July 1917, Page 1

POLITICAL TOPICS.

THE BUDGET. ANOTHER BIG WAR LOAN. (Special to WELLINGTON, This day. The probability of the Address-in-Reply debate closing this week arouses interest in the political situation generally. the proposed legislation, the Budget and the War Loan. It is quite on the cards that the Financial Statement will disclose a very substantial surplus. Last year the surplus amounted to two million pounds, and although certain branches of revenue, notably railways and customs, will probably show a falling off this year, the other departments will show considerable increases, and last year’s surplus will probably be exceeded very largely. There will be another big War Loan to face, and it is quite within the bounds of possibility that the Government will find it advisable to raise the rate of interest to ensure the necessary amount being subscribed. Last year eight millions was asked for and the response far exceeded anticipation. The Dominion has had another good year, and no doubts are entertained that the response of the public to the “Victory Loan” will fall short of requirements. Further taxation is inevitable, but the Minister of Finance has so far given no indication as to what form it will take. There is a strong feeling that it should follow the lines of the “conscription of wealth,” with a steadily rising scale over the minimum until it reaches such proportions that the man of means will be able to honestly say he is doing something to win the war. On the present scale he is simply foregoing a portion of his ordinary income and excess war profits and tries to convince himself that he is “doing his bit.” It is to be hoped that the Government will see to it that he does a little more. An amusement tax is also foreshadowed, with special application to theatrical companies and picture shows. The Budget should make its appearance about the end of next week.