YEAR'S FINANCES.

Auckland Star, Volume LIV, Issue 81, 5 April 1923, Page 9

YEAR'S FINANCES.

■ A SURPLUS OF £500,000 FORECASTED. REDUCED EXPENDITURE. From the three quarterly statements that have been published, and the statements made at the end of each month by the Finance Minister (Rt. Hon. W. F. Massey). says the Dominion, it has been estimated unofficially that there will be a surplus of round about £500.000 of revenue in excess of expenditure for the financial year ended March 31. The estimate is made up as follows: — Revenue. Expenditure. £ £ Eleven months . . 22.440.15fl 22.585.24.". March (approx. 1.. 2,f»T5.000 1.50P.000 Tear 23.015,189 24.457.24:! The estimate for March is arrived at by taking the average of the revenue and expenditure for January and February. The recovery in the Dominion's finances is attended by a promise by the Prime Minister that, early in the new financial year, he will make further reductions in taxation, amounting to two millions sterling. The following comparison of the finances for the last five years is interesting, in the circumstances: — Year. Revenue. Expenditure. Surplus. £ £ £ 1019 .. 22,352.375 18,673,500 3,(178.773 1020 .. 26.081.340 23.781.524 2.299.816 1921 .. 34.260.061 28,058.730 6.102.231 1022 . . 28.127,007 28,466,838 • .139,831 1023 .. 25,015,189 24.457.243 527,041! Total 133.836,869 123.477.934 12.358.935 * Excess of expenditure over revenue.