BUDGET OUTLOOK.

Auckland Star, Volume LXVII, Issue 31, 6 February 1936, Page 6

BUDGET OUTLOOK.

How important is the yield from Customs and the sales tax in supporting the Budget can be seen in the figures for the nine months. The increase from these two items, taken together, is £612,170, and is likely to approach £800,000 before the Budget year ends. Receipts so far are well up to the estimates of the previous Government, and there is a steadily improving prospect that the year's total will be at least as good as Mr. Coates' September forecast. The period reviewed by Mr. Nash includes only one month of Labour rule, and the statement substantially bears out Mr. Coates' predictions. The sales tax is now producing over £200,000 a month, and is next to stamp and death duties in order of yield. This, of course, is the natural result of business recovery. The largest drop is in "other receipts," a group which was abnormally swelled in 1934-35 by profits from the sale of Reserve Bank gold. Apart from the decrease in death duties, which was expected, the only other considerable shrinkage to be noted is that in interest, which includes Departmental and mortgage payments. On the expenditure side various payments have been made earlier than last year, and compax-isons are therefore difficult, but the Minister is confident that the Budget will show a balance on March 31.