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II NO NEW TAXATION IN ONTARIO, . AS IMPROVEMENT IN REVENUE MA TERIALLY REDUCES DEFICIT Queried in the Legislature yester- day regarding what effect the judg- ment ot the British Columbia Bu.. preme Court, in declaring that Prov- ince's gasoline and oils tax ultra vires. might have on Ontario's im- post regulations. Premier Ferguson said that from the newspaper re- ports he was inclined to believe that entirely different points were in- volved. In British Columbia the Premier believed the arrangement to be one of indirect taxation, while in Ontario it was direct. The Premier added that until he had a copy of the Judgment he could not give a definite opinion on the situation. LEGALITY OF "GAS" TAX IS UPHELD BY PREMIER Thinks B. C. Decision Will Have No Effect on Orr. tario lmpost Tridaq, March tsth Abandonment of taxation on car- bonated drinks, which has been the subject of difficulties and conten- tion during the past year. was an- nounced by Provincial Treasurer Price in his third Budget address before the Ontario Legislature yes- terday. The tax, which brought deputa- tions in protest and resulted in con- flict between the manufacturers and the department as to collection and the affixing of stamps to pop bot- tles, yielded only a little over $80,000 ainee its imposition last spring. and Mr. Price estimated receipts would not be more than $190,000 for the year. For that reason it was aban- domed, Increase in Revenue Over 1923 Is Placed at $11,- 600,000, With Deficit for 1926 of $1,500,000 - Public Finances Strik- ingly Improved, Claims Hon. W. H. Price Later he announced that it would involve some tax collection depart- ment reorganization in May and the release or some of the inspectors. Deficit Reduction. , No other taxation changes were announced by the Treasurer. He estimated the 1926 deficit at 81,-. 500,000. as compared with the pres- ent $5,000,000 deficit. and announced SOFT DRINKS TAX TO BE ABANDONED an $11,600,000 improvement in rev- enue over 1923. noting at the same time a striking improvement in public finances. . Intensified audits, of which no fewer than 67 were conducted during the Fear, he said, had resulted in substantial savings. "A"...u- -_-_A-~ - - H "i-'""""-"-.'.'... "v.5..." Definite announcement was forth- coming of the institution of a. debt- retirement policy in the year 1927. This. he admits, necessitates a. bal- anced Budget by that time, It the present fiscal year works out accord- ing to departmental estimates. "it may not be necessary to put 'on any further taxation. Should it be tound. however. that these antieipationa are not realized, then the Govern- ment will have to take.under nd- visement the providing of new revenues." Likelihood of Balanced Budget in Two Years Indicated by Provincial Treasurer-Entire Debt of Hydro to Be Wiped Out in Forty Years I Debt Wiped