PUBLIC REVENUE

Press, Volume LXX, Issue 21244, 16 August 1934, Page 13

PUBLIC REVENUE

I SOURCES OF TAXATION | CUSTOMS AND UNEMPLOYMENTJ PREDOMINATE j | Details of taxation receipts from all I sources for the year ended March 31 are as follow, the figures for preceding terms being shown for comparison:— lf>:;;:..",;. j 9::;-::';. lystgg:. Customs , ami Ix-er 7,1 I l ', ITS i'..T,-:>,i; II 0..". 1.7,-I'-.? Motor vtMd.--, l,T':::.7'jT 1.r,.-0.f,0r, i.-i t.iss Lund . . I!H.'>7 J -I'.is.'.ijii ..ig.lg- ' [,,,:,, |,' li.;Mii.,n -T',i,-Jll gs-. r.:-g -j.'jn.-joc; | Duty on in- ! M.MM], ~i- i!ip.<;:;'> i ■.>•_•. it ; • ■..".: *,'. 17 :: ', ']\>tali.-.H"r 51",7-I'. g"g.::7l -1 m..-i - Amn.-f'f, 4>.T1.7 ;.:;,.-,s I 71,7')- I '"""i--,, "T-TS,, ■■,■,„-„ ---J ni.'i'r. 1.1 l :;,2-Jl. i.i'gg.r.igj 1.-.M7.17 1 | I/ilm ],ir.- ::l',!)i;ii :'.(., i i-.-j -U.L'OT Cold duty i it.iium ir>]u:;ii | la:, .|;i.oiii.i _.. j L'l. iTo.sjT In.7'i-j,7u;; it. l".-.,(g-:s The total shows an increase of £1,767,124, or 9 per cent., and amounts to £l3 18s 7d a head of mean population, as against £l2 17s 9d last yearland £ll Us 6d in 1931-32. The sale,' tax more than accounts for the in- ; crease, while unemployment taxation j is now second only to Customs | revenue, and amounts to CO per cent. | more than the income tax. | The following figures give the- percentage of (he total contributed by each of the main items for the past years, compared with 191*4: ! 1'.'::l. l'.i:::j. l!i:;2. 3 ■•:: 1. r.M-t. Customs . . ::::; :: I!, liT.l .is', oO i i.i.'li.l" .'.' '■■ -4 ':';'" o' y,'i | Tn.-.Mnc . . i;:j is '_■:,.'. gt :>:. IU-litll .. lii S" Ui 10! I'm-m- ---| Oiluo' '.'. 7\ s ...' a 7 Up to 1917 customs was easily the main form of taxation, and it was only ! in 1916 that it produced less than half jthe total, while in 1904 it was 74 per cent, of the total. The peak of laxa[tion was reached in 1920-21, due to heavy customs duty on the excessive importations and heavy income tax, and the latest year is only 3 per cent, below that year's total. Customs has contributed the largest share except in 1917 to 1920 and 1922. when it was exceeded by income tax. I i. RAILWAY FINANCIAL RESULTS INCREASES IN REVENUE AND j EXPEMMTL RE ' i (Frcin Our Parliamentary Kcpurter.j WELLINGTON, August 15. i Hailway financial results for the I four-weekly period ended on July 21, announced by the chanman of the Railways Board (Mr 11. 11. Sterling) to-day, show an increase m revenue of £12,4.">9 and an increase m the expenditure of £20,172. the net earning" j amounting to tl 12,821, compared with j £20,024 tor the corresponding period of last year. The in..Teas'? m reveii'.;". although; i satisfactory, wa-: on a smaller scale: than the increase during rc'cn! : : months. -,iid Mi- Sterling. V\ hilst. pa-,- ■ senger ami parcel. Irallie continued to] show : üb.-tunlial improvement, good: | revenue showed a .-light decline front I the exceptionally high level of last i year, the principal contributing facto"! being liuctiiatii n , in shipping trat'tlc j and manures. The mcrea.-e in I'xpen j dituro was 6\w partly to the additional J mileage in the new line now bein; ! ■worked on (he Stmt ford-Oki.hukura j railway, and partly to the speeding up on maintenance work, such ,n ' painting and repairs on departmental 1 houses and station buildings. The | annual overhaul of lolling stock va.-. also being expedited, as it. was anticipated that very heavy demands would be made on the service mil uv\ tiv coming visit of the Duke of Gloucv - ter, which would coincide with ilv Christmas and New Year holiday period. The increase would, of cuur-e, ; be otTsel by ;i tapering >!" iin expend!j lure on these hems lat< r in Lie vvir. j For (he cum nt. lii:aii"-ial \i,:r ',., : July 21, revenue increased by £IOB.BOI and expenditure by £05,534. The net earnings of £275.429 were thus £43,347 in excess of the net earnings of last year. THE WOOL MARKET j OUTLOOK OiiSCI BE i "Hardy has" a new wool reason '■ 'opened with prospects more ob.-cure." j 'slides a survey of Ihe market i-stiedl Ireeenlly by the Australian Mercantile' I Land and Finance Company. I ' The firm comments: - "It would ap- j pear that, the fate of the wool markets! jwill depend very largely on inter-, national politics. Kniorgeiuy measures, applied to trade have at hist afTecleu wool, even the laws of supply and demand having been suspended by some important wool-using centres. The most important factors are the determination of Germany to bar imports and of Italy to regulate them. Policies of self-containment, no doubt, have been forced upon these countries by the exigencies of finance. "It cannot be assumed that Germany and Italy do not need wool. It :s probable ' that they will purchase freely as soon as the work of internal stocktaking is completed, or when finance permits. Curtailed imports to these countries might stimulale the demand of others, and we might advance the suggestion that wool is not in too great supply even without the customarv activity of buyers for Germany and Italy in the Australian market. The call for wool is worldwide, and is increasing rather than diminishing.. There are some grounds for confidence in the future demand for wool." 11. Dawson, Sons, and Company, woo! brokers, London, writing on July 3, referring to the German embargo on wool imports, explain that licenses for imports are obtainable, as the authorities announce that machinery niust be kept busy and unemployment averted. These licenses, have, however, to be obtained by Ihe consumer, who must supply proof of need, and the difficulties are still considerable. Consequently the immediate outlook is not very clear, but is by no means discouraging. The principal cause of tinjcertaihtv regarding values is the fact (that there will be an increased supply, variously estimated at from 5 to j 7 per cent, from Air'ralia. WELLING TON CKUTCHINOS SALE The Wellington Wool Brokers' Association wilf hold a sale of wool on Tuesday. August, 21, when approximately 1400 bales will be offered, of which about -'1250 bales will be crutchings and oddments and 150 bales lleece wool. POI'LTRY AND E(,dS i i 11. i'. >-„,ai'„ ..I IV City s e-t. r,-r.ort. ~-; , ra 1.,!-.- .nlgo - al liio «•,-<■;, ty <;,!.. I'voo-,,.,naim-,l firm in Moo- of a buso .nlr). Manv .-..iintrv lions v. op- sold to s|dom!id ,„„,,;,.ti,in,i. l''ri<-(-s va-ro as follow <:-- -Turk-'y lions Us lid to lSs fill. pddiL-rs, quality only modiu.n, J"s to Ms. A --pl.-ndid lino from ! il, t , havs .-.vfragod -'ls i. J.ai:-. Cor-U-rols '.ls i ::d to 7s fid, odd birds r.s f.-icli. A lino nf -n mad,- In 1"'. IMI.-k- Is Vt t-> ' .-,.- ".i,|. A linn of Klin Id <'ai.i|ilii-!l durkn ! „,,!- !»- ::■: :, ~::■,.-. Lan- g- '"I lo L- -I. j i,,,., 7- 1.. 7-. I - ■■■- "'i '" •• '■'; I '."'-,■ li,in.-d .7.- ■'■ -■