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O l S | , era urplus | & Will Create Record | # ® # Premier's Budget Address Points to Margin * * of $13,326,693 for Province This Year: # L Presents Bright Picture With No New Taxes ASKS NON--ESSENTIAL DRIVING CEAsE ( Further details of the Ontarto ment of basi productions and wa; Budget will be jound on Page 8. ) materials," he said. > Mheireratierees The Premici spoke for forty--five In a budget address that renew-- , minutes on 'what was the shortest ed pledges of a "pay as vou go" war and by virtue of war conditions arw! # f the lack of expansion programs and financial policy, Premiet Hepburn taxation--the soberest budget of yesterday estimated an "over--all | 45 areer. The debate was ad-- surplus" of $1,383,552 on the finan-- | journed by Leopold Ma aulay, South clal operations of the fiscal vyear | YO°"F ('::n\.-x\»;.: ve financial critic, A a i4 P who will resume the budget dis-- just ended and, by his forecasts of cussions on Tuesday. $136,351,161.65 in revenue and $12%,.-- In presenting as an official sur-- 024,468.50 in expenditures, laid the plus, the over--all amount of $1.383.-- basis for a $13.326.693.15 "over--all | 552, -- Premier Hepburn _ departed surplus" for 194243 from previous custom. s ag tm f i a n nbntnk The old method of reporting The Premier, in his eighth budge said Premier Hepburn, "resembles address, budgeted for gross ordin-- {no much the system of bridge ary revenue of $105,047,796.04, as scoring above and below the line." compared with 1941--42 returns of "';" said : f"I '"'f'i.'v 1e m"""l"'l' :"'; t ts 1fe Jom revenues from ordinary account an« $120,958,245.58. His estimate for or-- capital account, and to offset against dinary expenditures in the comins® | the sum of these two items, the year is $104,574,182.12, as . )mpared | total expenditures of the Govern-- with 1941--42 expenditures of $107.-- | ment whether for capital or fo: 629,222.18. The total estimated rev-- ordinary purposes." enue is arrived at by adding esti-- Into the web of financial state-- mated A_J".'! receipts of $31.303.. ments he wove the assurance to 365.61, and expenditures by adding municipalities that the one mill estimated captial payments of $18.-- subsidy will be paid agzain this year, 450,286.38. and to farmers he gave kindred as-- An estimated increase of $11,433.-- / surance that Agriculture Minister 029.30 in apital receipts and an | Dewan will introduce a bill tha estimated decrease of $13,365,520.45 | will again provide for bonus pay-- in capital expenditures are declared ments on premium hogs and ched-- to be major factors in the provision -- dar chees for a higher over--all surplus for "The subsidies," said the Premier, 1942--43, as compared with last year' s' "were a good invesiment on the (igure. part of Old Man Ontario in Can-- On estimated net ordinary reve. ada var effort." Their renewal. nues of $95,326,938.36 and net ordin-- he added, will not only maintain a ary expenditures of $94.853.324.44. ! measure of confidence in "our greal * the Premier forecast on this basis | bas:c industry, but will also give a a surplus of $473,613 for the coming bit of well--merited rec ognition to year. A comparison of gross ordin-- the most important and hardest ary revenue and expenditures for working citizens of our Province last year gives a surplus of $13,329,-- | the Ontario live stock farmers." 023.04, a figure which is comparable In the strictly financial theme., with the surpluses reported in pre-- | he reported a reduction of $4,159.968 vious years and one that shouldered | in the gross debt, a reduction oi above last year's record, up -- till | $6.585,240 in the contingent liabili-- then, of $12,600.364, and threw into / ties (bonds, etc., guaranteed by the pale relief the celebrated "Sunshine Province), and a redyction of $11.-- Budget" surplus of $9.313.938 of the 300,000 in the Treasury bills. Con--| 1937 election year. tingent liabilities are estimated to | _While expecting a surplus in |amount to $125,542,645, and Treas-- token of the $9,743.063 forecast on | urvy bills. outstanding as at March March 14, 1941, the Government | 31. $49,500,000 following reacted with frantic desk Into the "pay as you go" policy, thumping applause when the $13,. | Premier -- Hepburn pledged : "We C 329,023 figure was laid before the | shall not seeck new money nor in-- House. trude upon the borrowing fields The Premier, in a surves of High.| which should be reserved for the ways Department affairs, demanded | Dominion Government in wartime. immediate cessation -- of pleasure| "We shall continue to live within driving. | our income. "The waste in gasoline, oil and "We will not increase taxes nor tires in purely pleasure driving | introduce new levies and will, at the should be stopped at once in order | same time, persevere in our efforts to make possible the complete move--| toward debt reductions."