PUBLIC ACCOUNTS

Dominion, Volume 12, Issue 18, 16 October 1918, Page 7

PUBLIC ACCOUNTS

$ FIGURES FOR THE HALF-YEAR HEAVY INCREASE OF EXPENDITURE A statement regarding the public accounts for the first half of the current financial year was made to a Dominion reporter last night by the Minister of Finance (Sir .Joseph Ward). The consolidated revenue for the six months ended September 30, '!918, amounted to £7,056,998, as compared with £6,049,858 for the corresponding period of last year. The net increase ■os £1,007,140. Tho expenditure for the same period amounted to £8,252,781,- as against £6,485,864 for the corresponding six months of last year. The increase of tho expenditure was thus £1,766,917. These figures show that the increased expenditure for the first six months of the current financial year exceeded the increased revenue for the same period by £759,777. The'heavy increase in the expenditure is due to interest r.nd sinking fund charges and war pensions. . REVENUE. Under the heading of revenue tho increases for tho six months onded September 30 last are.as follow:—Customs, £191.641; stamps and death duties, £112,580; Postal and Telegraph, £166,124; land tax, £47,055; income tax, £75,563; beer duty, £30,522; railways, £234,24-1; registration and other , fees, £2063; miscellaneous, £143,226 ;'.National Endowment, £8331; other, receipts, £3006. The decreases of revenue are: Marine; £1862, and Territorial, £5353, leaving a net increase of revenue for the period of £1,007,140. EXPENDITURE. • The increases in interest and finking fund for the period amounted to £1,140,519. Other increases in expenditure were as follow■:—Under special Acts, £420,231; Civil List, £1535; Finance Department, £18,917; Post and Telegr.iph, £61,121; Railways, ■" £207,708; Public Buildings, £5852; Native Department, £1055; Justice, £1.2,931; Mines, ' £9560; Internal „ Affairs, £11,533; Customs and Marine,. £i 336; Labour, £1758; Lands and Survey, £19,977; Education, £39,584. : The decreases in expenditure during the period were as follow: Legislative, £4608; Defence, £13,561; Agricultural, £50,721)'; services not provided for,. £26,849; purchase of whent,. £128.392. The increases in expenditure Biake a total of £1,961,017, and the decreases a total of £194:100, leaving a.not_increase in expenditure of £1,766.917.■

THE POSITION SATISFACTORY. If we contrast the ordinary Departmental expenditure, exclusive of interest and sinking-fund, and ether perr/ianciit charges, it will be found that the expenditure, for thji six months ended September 30, 1918, exceeded that for the corresponding period of 1917 by £332 ( 99J," said Sir Joseph AVard "lii view of the fact that the better half of tho financial year as regards revenue has still to come, I think that the position may be considered satisfactory. "The greatest increases of Departmental expenditure are under theheadings of Railways, Post and .Telegraph, and Education. , In the case of tho Railways Department the increased revenue for tho six months is less than the increased expenditure. The increase of revenue in the Post iiwl .Telegraph Department is nearly double, the , increased expenditure. Tho Public Works Department shows an increase of £44,f>B9 in expenditure as ,compared with the corresponding period of last year. "The expenditure out of Public' Works ■■.Fund.-, still, continues to lm well .regulated, and no difficulty has l.cen fourid by the Treasury in. providing for the requirements of the.Department. PUBLIC WORKS FUND. "In the Public Works Fund,"- added the Minister of Finance, ''the.expenditure for the six months ended September 30. 1918, shows an increase of £7145 over the 'expenditure for the corresponding period of .101.7. The increases are as follow:—Public buildings, £8592; lighthouses, etc., £1774; tourist and health resorts. £117; immigration, £96; rnads and bridges, £17.283; telegraph extension,, £89,213; contingent defence. £889: (irrigation and water supplv.- ,1'828; plant, material and stores, £-1893. ' I "The decreases in public works expenditure wore as follow:—Railway construction., £81,90S; development of mining, £41; lands improvements, £186;" unauthorised. £4006. Tlie.net increase in the. public works expenditure was thus £44,689."