BRITISH REVENUE.

Bay of Plenty Times, Volume LX, Issue 10826, 24 March 1932, Page 3

BRITISH REVENUE.

REDUCTION OF DEFICIT. Rugby, March 22. With eight more working days before the financial year ends the revenue returns to March 19 show a deficit on the national accounts of only £19,400,000 compared with £34,800,000 on the corresponding date last year. The revenue received in the past week amounted to £24,700,000 and the expenditure to £19,900,000, making the surplus for the week £4,800.000. Income tax receipts already exceed the revised Bnget estimate of £272.000,000 by more than £5,000,0000 and' surtax receipts by £2,000,400. On the other hand estate duties and stamp duties together are £21,'000,000 behind last year's receipts to the corresponding date, although the Budget estimated the re ; ceipts .for the year at about the same total as last year. The customs and excise together are about £10,000,000 over last year’s receipts to the corresponding date, compared with the Budget estimate of £75,000,000. The increase in the year’s supply expenditure to date is about £11,000,000 in excess of last year, compared with an estimated inciease of £22,500,000, indicating substantial economies. The floating debt now amounts to £009,000,000 a reduction of £3,500,000 in the past week, The Daily Express that the Budget surplus will be £10,000,000.