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March 13 N | Budget Highlights | Surplus forecast for 1936--37--$597.985. Forecast reduction in Ontario's gross debt--$10,560,338. Deficit for 1935--36--$12.496,.609. * Relief bill for 1935--~3--$20,363,645. ' Record revenues jor 1935--36--$79.147.039. No increase in corporation tax or succession duties pledged; no ! other taxes mentioned | Wine tax abolished and amusement tax modified. v | No further reduciions in university grents. h Succession--duty--free bonds to be bought up. Province to iloat ioans on lona--term market. Ontario's credit throushout world shown unshaken, | BUDGET PLAN Hepburn Budgets | For 1937 Surplus, | 1936 DEF'CIT! = § a / * "I shall endeavor to give an accurate | | Clos|ng Year's Deficit and understandable account of how | hn ce selracaas en in arerncnt on | the business of the Province has been | Plus $13,496,609, or More ;caaorried on," he saidailf they could trace | e p | "14+ | Uovernment expenditures, the Premier Income Tax Rev fNUC}I9}| / Than a Million Under | Sanoines Spmiwe theP more Relie{--Cut, Sufficient to | Esti t *interested in Government affairs and| & | stimate understand better why they were called Balance Expenditures hrmgraniernicmngs ' on to pay taxes, | mm« Forecasting a Government surplus . *M¢ Real Herces, How Premier Hepburn plans to bal-- of $597.985, with debt reduction of 'h'WhGg:" a httiehlgter, he announced ance his 1936--37 Budget was revealed $10,560,338 for the fiscal year 1936--37, ;--;s xe'mr;le!rl duafSG.(l)'(')e0.000 sur-- in the estimates brought down yes--| Premier H Introduced into th plus----e cep or relief--t Premier terday by the Premier. The $13,000.--| mier Hepburn introdu nto the <~again showed he was thinking of the 000 deficit of the closing fiscal year,; Legislature yesterday a "pay--as--you-- taxpayers. 'they revealed, is to be taken up by the| go" Budget. ' beeI "::' sen;lbt% of Lhel mf"t that has 88.000.!(])00 revc-mtxc inc;egs'.'m:':geocotgd: Delivering his second Budget ad-i A n f)h yed % e pTo}pe C t'htii co:m- om the income tax and by » ** | s ; & | uy who are the real herooss--the tax-- :roo cut in the vote for relief. } dress, the Premier, in his capacity Cf! payers. They have been taxed. on» The Premier's estimates show no| Provincial Treasurer, announced t,her might almost say. to the marrow. and evidence of any other new taxes. Sught' closing year's deficit as $13,496.600--| they have given us an exhibition of revenue increases are expected, and) over a million less than he forecast| fortitude and willinzness that is above these include an 8 per cent. increase| a year ago. ' praise. Thcy have paid onerous and In the gas tax receipts. and a 10 per| Capital account was balanced dur-i burdensome and sometimes obnoxious eent. increase in the corporation tax| ing the closing year, and a continued| taxes with a dceerc» of ch: rfulness revenue. 'The Premicr's speech of yes-- cut in capital costs during 1936 is ex-i that reflects credit upon them." terday knifed any idea of tax increases| : pected to effect the heralded $10,560, -- | Vibrant and strong throughout th in these two divisions, and it was pre--| 338 of debt reduction--the first re-i entirety of the two--and--a--half--hour sumed the revenue increase is ex--| duction in Ontario debt since the be--| socech, the ice of Ontario's young pected out of better conditions. y ginning of the century. ' Prime Minister rang through the The Premier figures his revenue Will | | mpav.as. «Gea" House, and was audible in its last wross at $13,000,000 above that esti--| | Pay--as.You.Go" Pian, F «yilable to the topmoast row of the mated for last year and nearly $8..| | _ The Premier went into office on packed and attontive galleries. 000,000 above the "$5,000.000--more--| | the pledge to cut expenses and raise The Premier spoke with such vigor than--expected" revenues actually re--| | TeVenues until he stopped the increase | ,,, ; stood the prolongcd strain of ecoived last year. |_, in the burdening public debt. Pull!® | nyremaration and delivery so woll that With these increased revenues, he' ' ment of the promise is regarded as he brought reassurance to his fol-- proposed actually to expand some| the first requisite of his x:e-elchon.. | lowers, who had been filled with dis-- Government services next year, and| vesterday, a% the second year of l'usf may by his recent illness and threat still produce a surplus of $597.985.| Administration drew 't'o a close, Lt}e of Ittifement. expenses is set at a little more than| CON." and staked his record on es--| Ovation Given Premier. 'm million over this year's. The in-- . fimates which will make the Province| Punctuated at its highlights by the creased allowances are pretty evenly| "pay--as--you--go'"' in the coming twelve! applause of his followers and even at «istributed among the departments. | months . | times of members of the Opposition, & continued cut in the Province's| | _ He gave the Legislature a report oOf| Mr. Hepburn's address was concluded eapital expenditure--which was prac--| | & Past year in which his Government in such a thundor and tumul: of tically balanced by capital receipts in' lhu turned in a deficit of 813..000.000 desk--thumping as the Legislature hes the past year--is slated to provide the | , --all of it part of the Province's s:'@g-- seidom heard. And long after the debt reduction. | | gering $20.000,000 relief bill. y House and gallerics were cleared, th» Ontario authorities were not pessi--| This deficit, the Premier pointed triumphant young orator was _ sur-- mistic iast night about the $8,000,000° ; Out, was the deficit he had forecast roundsd at his desk by scores of out in relief money, although the cost ; last soring .__ His costs had been more Ministers, members and distinguished of relief knocked ou. last year's cal--, | than a million below what he had ; visitors anxious to shake the hand of cm They m'nwd out t.htt the' *Dijled. md revenues had the man who had delivered the n-'!:;'\j Province's reliet expenditures have' |Climbed $5,000,000 above his estimates| strigking and imporiant speech since i been stabilized in the last four| | and taken care of part of the UneX-- tns Liperal Administration began. wonths and assisted by an increased| | Dectedly great relief load. Morse than once the Premier tore Federal grant. | Estimates Accurate. into' the Conservatives m' the (...d'lhi _ His estimates of last spring for the (;'i,,;}};u;';?e?lf' . h,,"'m'.j,'.'.\f"'Cf\;.\.,fz.;;; } Jogislatur ow th: t | the Premier noted. The House should Ment Was pushing the gros dobt up | have confidence in his forecast for gi»("ls;f_,;].t\)oo.ooo a monlh in ie 186 ( ':sh_e coming year. And that forecast Conservatives had said 'n' hag OE;). "This year we are going to give the ©*°ASCd the i ie oi ?{\"'blljoi.\q\'('----'lxoz..; people of Ontario a cash surplus, and Wwell, 'g"_"lfim('"'d 5 ShoW debt of for the first time in this century We have increased th.Qd'- y this Province from April 1, 1935, up show to the people of Ontario a re-- x duction in the mwth {f the burden-- to and including Feb. 29, 1936, by ':' debt." o the sum of $14.245,657.36." The Premier made this pledge yes--| terday in a two--and--a--half--hour Bud--. get Speech, which was addressed, he said, to the people andtothel.egls-' * lature. ' %