THE ESTIMATES

Ashburton Guardian, Volume 55, Issue 302, 4 October 1935, Page 3

THE ESTIMATES

AN EXPENDITURE OF £2,500,000.

PULL-TIME EMPLOYMENT.

HIGHWAYS AND COMMUNICATIONS.

DEVELOPING ELECTRIC POWER, (Special to tlie “ Guardian.”) WELLINGTON, October 3. The Minister of Public Worts (the Hon. J. Bitchener) presented the Public Works Statement in. the House of Representatives this afternoon. The Minister stated that division into four broad main headings gives a comprehensive view of the works proposed. To lines of communication there must now be added the construction of aerodromes and emergency landinggrounds for aeroplanes. The following gives this year’s proposed expenditure under each heading:— £ (1) Construction and improvement to lines of communication (railways, highways, roads, harbours, and aerodromes) ... 2,730,000 (2) Land-development, including settlement of unemployed workers ... 819,000 (3) Developm'ent of electric power ..... 621,000 (4) Erection of public buildings ... ... •••■ 061,000 The total net expenditure under all votes proposed this year in the Public Works Estimates is £0,200,000 (which includes £1,310,000 from Main Highways Revenue Fund and £450,000 from Main Highways Construction Fund), as against ian appropriation last year of £4,731,654, which included £1,120,000 from Main Highways Revenue Fund and £510,000 from Main Highways Construction Fund. In regard to the ways and means of the General Purposes Account of the Public Works Fund the position is as under: —

'Balance available April 1, 1934 825,960 Add funds received during the year— Finance Act, 1930 (No. 2), section 2 ... ... 1,386,910 Miscellaneous 523,571 1,910,481 2,736,44.1 Deduct expenditure during 1934-35 — Annual appropriations ... 1,541,980 Permanent appropriations . 1,130 1,543,110 Bal. available Mar. 31, 1935 £1,193,331 The estimated net expenditure under the General Purposes Account ior the current financial year, 1935-36, is £2,818,500, and arrangements are being made with the Minister of Finance to provide the necessary funds. This is the amount shown on the Publio Works estimates, which also show _an estimated net expenditure of £621,500 from the Electric /Supply Accoiint and £1,760,000 from the Main Highways Account, 'a total for all these accounts of £5,200,000. . , _ The Lake Coleridge-Waitaki hydroelectric plants have operated satisfactorily during the past year, and the revenue shows an increase of £B6oo over that of the previous year The year’s operations resulted as under: — Capital investment at end of year 4,397,871 Revenue ... ... 228,09/ Operating-expenses 35,083 Balance ... £193,014 The balance has been used in payment of interest £97,792, £78,552 has been paid to depreciation, and the remaining £16,670 to sinking fund. The capital invested in the electricsupply systems operating throughout the Dominion totals £32,823,944, which includes £12,903,410 of - Government expenditure, and the gross revenue received. for the year was £4,577,998. After paying working-costs, interest, "inking fund, and depreciation charges, the net profit for the year under review was £449,499, compared with £460,489 for 1934, which indicates that the electric-supply business as a whole is in a healthy condition.