THE DOMINION'S FINANCES.

Press, Volume LXXI, Issue 21449, 15 April 1935, Page 12

THE DOMINION'S FINANCES.

SURPLUS OF ABOUT £1,500,000 APPLIED TO I'KDKMI'TION OF OK: UTS (I'ltEai •ii-.lK'lVfU'X I'KUMSAV.) AUCKLAND, April 13. It was clear from the incomplete public accounts that there would bo a surplus uv approximately iL 1,500,000 for the financial year. Thia wa.i \ cry satisfactory, but it should be understood that it was dim mainly lo windfalls, namely, death dutiea above the average, and to profits from tin: aale of gold, said the Ht. Hun. J. G. Coatea (Minister for b'manco) before his departure for London to-day. Apart from these the revenue and expenditure did not appear to have varied much from the budget estimates. "I may add," said Mr Coates, "that tho iiiirplua has been autoI'notieally applied (o redeeming dobta representing u portion of thej deOcitn carried forward from the year 1931-33 and J93S-34, amounting to approximately I

£2,500,000. Because of this surplus the accumulated deficits have been reduced to £ 1,000,000, which amount remains to be made good out of future surpluses." Mr Coates said the result of the negotiations in England would determine the future of she meat industry in New Zealand. He implied that the imposition of a levy on. meat Imports would be resisted. He said adherence to the spirit oi! the Ottawa agreement was preferable,