THE PUBLIC ACCOUNTS

Dominion, Volume 22, Issue 33, 2 November 1928, Page 10

THE PUBLIC ACCOUNTS

HALF-YEAR FIGURES

The figures covering receipts and expenditure under the Consolidated Fund of the Public Accounts for the halfyear ended September 30 are now available.

A summary issued by the Minister of Finance shows that the gross receipts for the six mouths amounted to £9,183.309. Owing to the alterations in the accounting methods of the Post Office and the collection of petrol tax, a comparison of the total revenue with that of the corresponding period for last year cannot be made except by eliminating items which do not appear iu both of the six monthly periods. Excluding these from both sides, and allowing for earlier receipts this year in Public Debt Redemption Fund to the extent of £150,000, the net revenue amounts to £8,186,640, as against £B,702,258 last year, a decrease of £515,61S. The principal decreases are: Customs, £481,187, and stamp and death duties £162,082; while the principal increase is one of £67,859 in interest on capital liability of the working railways.

The expenditure under permanent appropriations for the six months was £6,931,705; but this figure also includes new items for motor and petrol taxes on account of main highways amounting to £443,951. Excluding this amount and an amount of £lOO,OOO for an earlier payment under the Repayment of Public Debt Act, 1925, the expenditure amounts to £6,387,754, as against £6,336,020 last year, an increase of £51,734. The principal increases are in subsidies to local bodies and hospital boards £23,943, old age pensions •£19,121, and family allowances £13,880. Expenditure under annual appropriations amounts to £3.665,274, as compared with £3,608,766, an increase of £56,508, due to the coming elections nnd to normal increase in education expenditure. The total increase in expenditure is thus £108,242.