PITH OF BUDGET

Dominion, Volume 18, Issue 256, 24 July 1924, Page 6

PITH OF BUDGET

YEAR’S OPERATIONS

A BRIEF REVIEW

The revenue for last year was £27,960,370 —an increase of £380,927 on 1922-23.

The Customs revenue increased by £1,205,923. The expenditure totalled £26,148,005, or £115,’755 less than the previous year. Economy in reduced expenditure since 1922, £2,318,833. Public Works expenditure last year, £3,749,160. The 1924 loan of 4} per cent., £5,000,000 at £95 was oversubscribed -low interest rate compared with other similar loans. Purposes of 1924 loan: Public works, £3,000,000; State advances, £2,000,000. Exports totalled £51,652,606. Imports totalled £44,401,756. Total trade, £96,054,362. Excess of exports over imports, £7,250,850. Working Railways—Receipts, £6,984,211; working expenses, £5,403,766; net revenue, £1,580,445; earned on capital cost, £3 16s. 6d. per cent. Post and Telegraph —Receipts, £2,681,240; expenditure, £2,117,952; excess of receipts, £563,288. Post Office Savings Bank—Number of depositors, 710,157; amount at credit, £44,448,444. Education expenditure, £3,271,781; cost of school buildings since 1918-19, £1,993,985. Discharged soldiers settlement—Total advanced in 1923-24, £1,196,400; total capital provided for soldier settlement, £26,555,116. State Advances —Total number of loans granted, 1923-24, 9648; amount, £8,066,202; granted for repayment of mortgages from October, 1922, £3,584,205; total advances by Department since 1914, £20,904,311.‘ Housing—Paid out, 1923-24 —State advances, number 4481, amount £3,291,609; discharged soldiers 714, £571,000; Railways 64, £46,110. Total number, 5259; total amount, £3,908,719. Total assistance granted from April 1, 1919, to March 31, 1924, £18,720,006. Other mortgage advances by lending Departments in last five years, £13,000,000. Public debt, £221,616,361. Assets of Dominion valued at £229,000,000. Loans falling due 1924-25 te bo provided for, £11,891,507.