THE FINANCES ANTICIPATED REVENUE FOR 1912-13

Evening Post, Volume LXXXIV, Issue 8, 9 July 1912, Page 8

THE FINANCES ANTICIPATED REVENUE FOR 1912-13

RETIRING MINISTER'S STATEMENT. ESTIMATED SURPLUS OF OVER A • MILLION. The Hon. A. M. Myers (Minister of Finance in . the Mackenzie Ministry) laid on the table of the House of Representatives to-day a statement show- ' ing the state of the country's finance as at 30th June, 1912. The balance on hand at 31st March, 1912 was £807,276,. ■ Since the close of the financial year the revenue was still increasing, as the follpwing figures demonstrated :—: — Consolidated revenue, account, balance 31st March, £807,275. Revenue from 'let April to 30th Jv.ne : Ordinary £2,388,387. territorial £29,696, national endowment £59/13 : total, £2,477,497. Grand total, r 4,3,284,773. Expenditure : Permanent appropriations £1,199,407. annual appropriations, £1.302,818: total, £2.502,226. Grand total, £2,502,226. Balance at 30th June, £782,546. It ie a pleasure to point out there has been no necessity to issue Treasury Bills this quarter. The Minister estimated the revenue for the present financial year at £11,014,909, made up as follows: — 1 . £ Customs ' ' 3,200,000 Railways ... 3,745,000 Stamps 898,800 Post and Telegraph 1,141,000 Land Tax 650,000 Income Tax ... -. 450,000 Beer Duty 119,000 Registration 95,165 Marine 47,000 Miscellaneous 369,530 Territorial revenue 240,000 Endowment revenue ... " ... 59,414 The- expenditure ie estimated at £10,737,958. compared with the actual expenditure of £10,340,368 during the last year. There will be increases of £158,387 in permanent charges and £239,204 in departmental charges. The position at the end of the year is estimated as follows : — £ Balance from last year ... 807,276 Estimated revenue 11,014,909 11,822,186" Estimated expenditure ... 10,737,958 Surplus 1,084,227 From the latter amount must be deducted the amount to be voted on the Supplementary Estimates. This will allow a transfer of £B*oo,ooo to the Public Works Fund.