PUBLIC WORKS LOANS

Press, Volume LXXVII, Issue 23401, 7 August 1941, Page 8

PUBLIC WORKS LOANS

£5,508,000. WILL BE RAISED SOURCES OF REVENUE (P.R.) WELLINGTON, August 6. Expenditure under the control of the Minister for Public Works during 1941-42 will total £9,178,675, and of that total £5,508,300 will be raised by loans. These details are set out in the annual statement of the Minister (the Hon, H. T. Armstrong), presented to the House of Representatives today. The largest item covered in the summary of votes is £2.957,375 for electric supply development. : The Minister stated:— ; “The estimated net expenditure under the general purposes account for the current financial year is £5,042.300, and arrangements are being made with the Minister for Finance to provide the necessary funds. This is the amount shown on the pub-

lic works estimates, which also show an estimated net expenditure of £2.957,375 from the electric supply account and £2,742,200 from the main highways account, a total for all these accounts of £10,741.875." The statement gives the following summary of votes under the control of the Minister for Public Works and proposed ways and means of raising the necessary funds for the year ending March 31, 1942: Consolidated Special Vote. Loans. Fund. Rev. £ £ £ Departmental 200,000 Railway construction 607,100 Public buildings 900,000 Lighthouses and harbour works 50,000 Development of tourist resorts .. 20,000 ~

Roads .. 350,000 Land improvement 200,000 Irrigation .. 552,000 Electric supply 1,987,000 Main highways 642,200 Maintenance of public works and services Totals .. 5,508,300 600,000 3,070,375 For the current financial year, 194142, a sum of £600.000 will be provided from the Consolidated Fund for expenditure on maintenance of public works and services, including £IOO,OOO for housing workmen' engaged on farm production. The expenditure on main highways (including permanent appropriations estimated at £307,800) is

estimated to reach £3,050,000, of which a sum totalling £2,100,000 is expected to be raised by way of special revenue. It is anticipated that the revenue from the supply of electrical energy will reach a sum of £2,288,000, which will be utilised for the payment of arrears of sinking-fund instalments, interest, operating expenses, and income tax, etc. The proposed, expenditure from loan moneys and revenue for votes comprised in the Public Works Fund coming under the control of other Ministers of the Crown is set out hereunder: —

Consolldated Special Vote. Loans. ' Fund; Rev. £ • £ £ Hallway improvements & additions to open lines (Minister Jo? f -. — 1,800,000 Railways) iso.ocio Education buildings (Minister for Education) .1 500,000 ... — Telegraph extension’’ (Post- ., •. / master - Genv eral) 275,000 — — Email ' farms d e v elopment (Minister for — 287,800 Lands) 388,200 Native land settlement (Minister for Na270,000 425,000 tive Affairs) 250,000 Linen-flax depelopment fMinister for Industries, and Commerce) ■ 600,000 — 389.000 * Totals .. 2,163,200 270,000 2,881,800