The Public Accounts
Sir#—ln case you should be interested in the question of what was the actual out-turn of the Public Accounts this year, the following is a summary: The Government, on the one hand, borrowed an additional £34.4 million. On the other hand, it increased its cash balances by £32.2 million. Thus it borrowed adgi-
tional cash from the public to the extent of £2 million. This is the over-all deficit in the Public Accounts. Capital expenditure of Government was budgeted for at £B5 million. It appears ; ’rat only £75 million of this was actually spent. However, on balance, it seems to be clear that during the past year the New Zealand Government financed at least £75 million capital expenditure while using only £2 million of borrowed money.—Yours, etc., W. ROSENBERG. June 30, 1959.
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Bibliographic details
Press, Volume XCVIII, Issue 28935, 1 July 1959, Page 7
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135The Public Accounts Press, Volume XCVIII, Issue 28935, 1 July 1959, Page 7
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