MAIN HIGHWAYS FINANCE

Wanganui Chronicle, Volume 74, Issue 140, 16 June 1931, Page 11

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 £329,800. This comprises customs duties on tyres and motor spirits, license fees and fines, 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 lo increase the petrol duty to 7d a gallon; it was afterwards 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 amouned to £17,555. The total revenue of the highways revenue fund, excluding a repayment of £150,000 from the construction fund, was £1,907,380, as against £1,486,536 in the previous year. New charges imposed on the account by last year’s legislation were £61,300 as interest on loan mcney from the Public Works Fund . ano £219,315 in subsidies on local authorities’ rates. These were formerly ’ paid out of ordinary revenue. Including the discontinuance of the formei , grant of £35,000, the total relief to the ' Budget was £315,615. or almost exactly the estimate of £316,000. The increase in taxation did not pro- > vide any margin for additional expendiI tuie on highways maintenance. The . year’s total was £1,047,182, as against 1 £1.224,555 in 1929-30. ’ Expenditure out of the loan fund on new construction was £757,906, as against £1,097,148.