B. —6

33

Estimates for 1929-30. Estimates carefully scrutinized and reduced to a minimum consistent with maintenance of existing services. Departmental revenue overhauled. Consolidated Fund— Ordinary Revenue Account— £ Estimated revenue .. .. .. .. 25,172,000 Estimated expenditure .. .. .. 24,910,000 Available for supplementary estimates and contingencies • • • • • • • • £262,000 £ Estimated Customs revenue . . .. . . 8,400,000 Estimated stamp and death duties .. .. 3,614,000 Estimated land and income tax .. . . 4,893,000 Cardinal Points or the Government's Policy. (a) To take immediate steps to obtain a balanced Budget, as this is a matter which cannot wait for the fulfilment of the more far-reaching proposals. (b) To provide a permanent cure for the unemployment difficulty and pave the way for decreases in the rates of taxation, by increasing the prosperity of the Dominion on a solid basis through vigorously fostering land-settlement. (c) To provide all the capital necessary to enable the State Advances Office to cope with the demand for loans for development of farms and the building of houses for workers. (d) To accelerate the completion of the trunk railway-lines, in order that these unfinished works may be brought into operation and made interest earning and at the same time provide more work. (e) To deal with the present unsatisfactory financial position of the railways, and institute a comprehensive system of co-ordination in transport, in order to check the present dangerous drift into economic waste, which otherwise will undoubtedly impose greatly increased burdens on the taxpayers.

6—B. 6.