NEW ZEALAND FINANCE.

Waikato Times, Volume 97, Issue 15980, 7 May 1924, Page 5

NEW ZEALAND FINANCE.

PRIME MINISTER'S REPLY. By Telegraph.—Press Association. WELLINGTON, Tuesday. A reply was made this evening by the Prime Minister to the Labour members' letter. Incidentally he remarked that the contents were published before a copy had reached him. Referring to the first point, Mr Massey said that there is no parallel between the British and New Zealand practice in regard to the issue of information regarding the public accounts. In Great Britain cash is received and issued out of- the Exchequer to the various departments. On March 31 a balance is struck between the receipts and the issues, and this is regarded as a surplus or a deficiency as the case may be. In New Zealand all expenditure is made through the Treasury. To account properly for this expenditure it is necpssary to clear all imprest vouchers received up to March 31 before the separate votes can be charged. In addition, all revenue must be correctly credited, as the various cash accounts are obtained from the receivers throughout the Dominion. Consequently it is a matter of several weeks before the Treasury can strike a balance. In the United Kingdom, departments arc allowed from 10 to 12 months to complete their accounts and have them audited and presented to Parliament. In New Zealand, an abstract of receipts and expenditure for the year must be audited by May i. 4 and then gazetted. This, together with the Appropriation Account, must be presented to Parliament, if then sitting, or within ten days of the next ensuing session. The law in this respect has been strictly observed. There has been no suppression. The usual course is being followed. "I have already indicated that the surplus would be substantial," Mr Massey continued, "but the suggestion of 'well over £3,000,000' is absolutely wrong. The surplus will be well under £2,000,000. "In their statement that without increasing taxation the Government could meet the demands of the public servants, Messrs McCombs and company have again fallen into serious error. .1 know exactly what the suggestion would mean if given effect to —another depression, and very serious unemployment all over the country, because money that in ordinary circumstances is spent in employing labour would have to be handed over o the collector of revenue. "It is absolute nonsense to say that this Government has thrown workers back to the position they occupied over 30 years ago. Salaries were increased to employees of the State in the first year after our taking office. During the war period bonuses were several times arranged, until the war came to an end, when it was calculated that the average wages had risen in the combined New Zealand services from £162 per annum in 1913 to £246 in 1923. This includes juniors and femaie employees, but excludes message boys."