SURPLUS, £270,000

Dominion, Volume 29, Issue 182, 30 April 1936, Page 13

SURPLUS, £270,000

National Accounts For Last Year / BUOYANCY OF REVENUE Taxation Yielded Over £21,000,000 A surplus of approximately £270,000 for llm financial year ended Marell 31 was disclosed in a statement yesterday by the Minister of Finance, Hon. W. Nash. The Minister said that the public accounts for the past financial year had been completed except for a few minor adjustments, but that before a precise statement o£ the revenue and expenditure could be given the accounts would have to be audited, lie stated, however, that on the figures now available the surplus was approximately £270,000. The revenue for the year amounted to £26,170,000 made up as follows: — Taxation £21,556,000 Interest 2,7'11>.00tl Other receipts 1,805,000 £20,170,000 "This revenue total is £430.000 in ex'cess of the estimates as printed in the Budget statement,” continued the Minister, ‘‘but it will be recollected that subsequent to the Budget being brought down a further review of the revenue estimates was made, and on the basis of this review it was considered that tlie receipts would exceed the Budget estimates sufficiently to allow the 74 per cent, increase in salaries and the restoration in pensions to be back dated to August 1 instead of October 1, as was originally contemplated; the additional amount involved being about £140,000. Allowing for this, the revenue received in total exceeded expectations by approximately £290,000. “The net expenditure for the year amounted to approximately £25,900,000, which was £60,000 in excess of the appropriations for the year. “The outcome ,of the year’s operations must be considered as satisfactory, particularly the buoyancy of the revenue, which indicates continued progress in the recovery of the Dominion.”