WEDNESDAY, MARCH 24, 1982
10
IN THE THREE YEARS ENDING 1979-80, CAPITAL REVENUE FINANCED 65 PER CENT OF CAPITAL EXPENDITURE AND IN THE FOLLOWING TWO YEARS, CAPITAL EXPENDITURE WAS ENTIRELY FINANCED BY CAPITAL REVENUE.
THE BUDGET ENVISAGES THAT IT WILL BE SO IN 1982-83 AS WELL, SHE ADDED.
+HOW LONG THIS STATE OF AFFAIRS WILL PERSIST IS DIFFICULT TO SAY, SAID MISS DUNN.
+BUT SHOULD LAND SALES FALTER, AND REMEMBER THAT REVENUE FROM LAND SALES NOW ACCOUNTS FOR OVER 95 PER CENT OF TOTAL CAPITAL REVENUE, AND SHOULD YIELDS FROM OUR SYSTEM OF TAXES AND CHARGES DECLINE AS A RESULT OF A POSSIBLY SLUGGISH WORLD ECONOMY, THEN I FORESEE REAL DIFFICULTIES AHEAD IN FINANCING OUR RECURRENT SERVICES AND OUR CAPITAL WORKS PROGRAMME.
*THE FINANCIAL SECRETARY MIGHT THEN HAVE NO OPTION BUT TO RAISE TAX RATES, AT A TIME WHEN THAT MIGHT BE MOST UNWISE, OR TO DRAW DOWN OUR RESERVES, PERHAPS SUBSTANTIALLY, SHE SAID.
CHILD ALLOWANCE CRITICISED
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THE GOVERNMENT WAS TODAY CRITICISED FOR NOT INCREASING THE ALLOWANCE FOR THE THIRD CHILD AND SUBSEQUENT CHILDREN.
SPEAKING AT THE BUDGET DEBATE, THE REV THE HON PATRICK MCGOVERN EXPRESSED MISGIVINGS THAT THE GOVERNMENT SHOULD FIND IT +APPROPRIATE TO KEEP THE ALLOWANCE AT ITS PRESENT LEVEL.
HE NOTED THAT APPROPRIATE IS A MUCH USED PIECE OF CIVIL SERVICE JARGON WHICH COULD MEAN ANYTHING, OR NOTHING.
IN THIS CASE, HE ARGUED, IT CANNOT MEAN ECONOMICALLY APPROPRIATE FOR PARENTS BECAUSE +A THIRD OR FOURTH CHILD, WHILE COSTING RELATIVELY LESS TO REAR THAN A FIRST OR SECOND CHILD, STILL COSTS MONEY+.
+ IN THIS INFLATIONARY AGE IT COSTS MORE MONEY THIS YEAR THAN LAST YEAR OR THE YEAR BEFORE. IT IS ALSO LIKELY THAT IT WILL COST STILL MORE NEXT YEAR AND THE YEAR AFTER.
+SO, ECONOMICALLY IT WOULD OBVIOUSLY BE APPROPRIATE TO GIVE AN INCREASE IN THE ALLOWANCE BEYOND THE SECOND CHILD.+
BUT SINCE THIS WAS NOT BEING DONE, FATHER MCGOVERN SUGGESTED THAT +APPROPRIATE MAY THEREFORE MEAN SOCIALLY OR PART OF A TREND THE GOVERNMENT TAKES TOWARDS PROMOTING A SMALL FAMILY POLICY BY THE USE OF DISINCENTIVES.
THAT THERE