AT A GLANCE

Evening Post, Volume XCI, Issue 143, 17 June 1916, Page 5

AT A GLANCE

THE WAR BUDGET

OUTSTANDING FEATURES

MANY INCREASES IN REVENUE.

DEALING WITH MILLIONS.

The surplus for the year amount's to £2,166,077. After deducting last year's surplus of £149,047, the net amount for the twelve months is £2,017,030.

Income tax duties show an _ increase of £851,801. • : *

Railway revenue amounts to £337,662 more than last year.

The increase in postal and telegraph; revenue is £336,474.

The sum of £119,350 more ifaxn last-* year was expended on interest and sinkr ing fund. Education cost £121,183-more than lasfr year. .'''.. .....'.'. _„„ .'■.. __.!.,.. I Railways are this. yeafestiniSted.'.td:. produce a revenue of £4,450,000. Customs £3,300,000, land ..' arid 1 income. ":tax£2,540,475.' Total estimated revenue from all sources, £14,757,478; estimated expenditure, £14,390,626; balance," £366,852. •' War ■ loans authorised last year £12,000,000, borrowed £9,850,030, ■ un-. exhausted-authority.£2,"lso;ooo. ■"'■".' " : Authority to be asked to ' raise £12,000,000 for war purposes this year. War costs expected to run into a million a month shortly.Parliament to be asked to grant authority for raising lh.lt a million from Post Office funds for public works; This is merely a precautionary measure, an it is thought there is sufficient monejr now available for public works to "carry on at a reduced rate for some time yet. Loans amounting "t0.'£6,274,953 .w'ero.. satisfactorily met in London last year. ■•Treasury Bills to- -the—amount -of £'1,950,000-r-a' '■ feeoYd" ''amount—'wire" all", paid before 31st March last. •Of the total-imports;6f £21,788,834' last year, Great Britain and the British Dominions sent £17,7 is 1,137.' ;.;.;.

Value of exports for 1915 £51,748,912, the highest on record.

To prevent supplies reaching the enemyno goods may be exported to Switzerland, the Netherlands, Denmark; Norway, or Sweden,, without, special application [to the Minister of Customs.

'Increase in beer duty for four months new system, in force £33,800. ;■

•■■ Land and income taxes amounted' to £2,440,475, an increase of no less'than £1,100,516. ' ;

Increase in Post and Telegraph revenue £1,689,917, an increase of £336,474. Amount of Savings-bank deposits for the year £13,706,057, and withdrawals £11,294,974. Total amount standing to credit of depositors £22,166,365,. an increase of £3,118,336. ''■•:■

Crown and endowment lands, resulted in a gross revenue of £1,286,524, as against £1,163,127 for the', previous months. . _

'A total area of about 750.000 acres of land was offered during the year for settlement under various tenures.

Fifty thousand pounds authorised to provide financial assistance to soldier settlers.

Total lands for settlement purchased daring .the year, 16,495 acres, valued at £136,326. A sum of £500,000 is required for acquiring suitable lands for returned soldiers. : Net expenditure on State forests far year. £30,313, approximately the saifte as last year. Limit of advances by, State Advances Office to local authorities remains at £5000. • .

Expenditure of revenue on account rtf Defence amounted to £432,227, bY £60,616 less than the estimated requirements. ■ •

■ One million and sixt-two thousand six hundred/ and seventy-four pounds expended on stores, supplies, and drugs for Expeditionary Forces in 1915; estimated that the sum of £1,548,000 required for the same purpose, in 1916. :

Total funds now in hands of patriotic organisations approximately £1,250.000. Output of coal for the year 2,208.624 tons, a decrease, of 66,969 tons.

No great difficulty in dealing with question of unemployment during ths year—partly, due to heavy enlistments.

Gross payments under Pensions Act (not including present war pensions). £563,969. ~ The estimated amount required for war pensions this year is £200.000. Payments to freezing companies and producers on account of supplies for Imperial Government amount to £9.143,----794.

War bonus to officers in State Departments, whose pay does not exceed £315 per annum. Cost* estimated at £409,000. A loan of £2.500.000. to be probably J'.iised in Dominion during current year, for carrying on works.and other services. Important ' changes to be effected in taxation. "Ordinary land tax oil mortgage .to be repealed and an income-tax* substituted on income derived from mortgages. Taxation of 45 per-cent, proposed on excess .profits earned as the result" of the ■war.'" The estimated revenue from this source, is £2,-000.-000. '..

A special tax of 5 per cent, proposed on all incomes earned last year from all sources, exclusive of Avar profits: £750,----000 expected to "be realised in this manner. ■ • ■ '■■•■ - ■ ■ ■

Financial assistance to be provided for friendly societies. . } Public Works expenditure to be reduced. 'Annual bonus out of .profits of Public Trust Office to be . provided for beneficiaries of estates.

' Transfer of moneys ' from the" Dominion, except for legitimate trade purposes, to be -regulated.