PUBLIC ACCOUNTS

Dominion, Volume 30, Issue 154, 27 March 1937, Page 8

PUBLIC ACCOUNTS

Surplus oi £lOO,OOO Indicated “SATISFACTORY YEAR” Close Adherence To Estimates A surplus of £lOO,OOO in the national accounts appears to be assured for the financial year ending on March 31. This prospective resuit is announced by the Prime Minister, Kt. Hon. M. J. Savage, as Acting-Minister of Finance, prior to Ills departure for England to attend the King’s coronation and the Imperial Conference.

Mr. Savage said he had arranged for preliminary estimates of national finance for the closing financial year to be taken out before he left for England and he was pleased to be able to announce that a surplus would be recorded. “It is very gratifying, on the eve ot my departure,” the Prime Minister said "to be in a position to announce this’result. It is. of course, impossible at this stage to indicate exactly what the completed accounts will disclose, but from the particulars which have been submitted to me, I feel justified in saying that the revenue for the year will exceed the expenditure by approximately £100,000.” Mr. Savage added that the estimates taken out at the beginning of the year had been very closely adhered to, indicating that the Government had maintained effective control over the finances.

"It is clear that the year has been a satisfactory one both from the point of view of the public accounts and business conditions generally,” Mr. Savage concluded. "In fact, the year has been one of substantial improvement in the material well-being of the whole community.”