STATE FINANCE

Evening Post, Volume XCVI, Issue 15, 17 July 1918, Page 8

STATE FINANCE

A PROGRESS REPORT

REVENUE CONTINUES HIGH

Tho 'Acting-Minister 'of Finance" (the Hon. Arthur Myers) has given details of tho revenue ;;and;2 expenditure for- the qua-rter£ended*3otk -June, .1918, ag;compared with tho similar quarter of 1917; also the revenue for the month of June 191.13 and 1917, arid the twelve months ended 30th June, 1918, as compared with the same period ended 30th June, 1917. . Commenting on the figures, tho Minister said : "It will be noticed that the ■ revenue for the quarter just ended shows jan increase of £616,419. The small dei crease in income tax is < accounted for. merely by the ordinary variation of col- ' lection. The revenue for the year ended 1 20th June, 1918, as compared with , a i similar period ended 30th June, 1917, I shows an increase of £2,559,299. ' "The expenditure for the quarter end--1 cd. 30th June, 1918, shows an increase ! of £797,793 over the same quarter 'for' I 1917. This is due to additional pen- ! sions and to the fact that interest": arid j sinking ' fund charges are growing 1 Heavier year by year' as new loans are i raised. As will be seen, the increased i permanent charge for interest and sinki ing fund alone amounts to £586,564. "It is impossible, of course," added Bfj, Myers, "to make any forecast, as TO much depends upon- tho "facilities forImporting and exporting g00d5."... ,: . ■ '■'' ' REVENUE. 7 ':',,;', Revenue for the three months ended 30th ■ June, 1918, compared with the three . months ended 30th June, 1917, .''/"' , . .'..'" .1018. .- ..1917. ■•'■■' '■ £ .',. £ Customs ................'.... 860,907 740,895 I Stamp and Death Duties .. . -422,814 . 300,435 I Post and Telegraph ......... 009,835 • 445,842 , Land Tax ' , 35,973 '0,749 Income Tax... 108,919- 119,783 1 Beer Duty .;... ■ -66,355 43,901 Railways },222,859 . 092,560. , Kegistration and other Fees 25,175 .23,186 Marine ;....!. 9,00-t 8,524 I Miscellaneous 1 .....;.'....;.'1' 10G.S0G ' '86,927 ' Territorial. , 15,264 .•• .14,650,• National Endowment Key... 103,824 100,493 Other KeceiDts 7.,:....;:.:,". .„ .." 10,249•.•;.;;.:, £823.' ,' • 33,603,084 ; 2,986,885 Increase during "1918 'quarter '"..''£616J249.' Total revenue for the month of June, 1918, £1,616,916; June, 1917, £1,325,912.: Increase, £291,004. .-.-■-.-. • ■ ■ '. ; Sevenue for the year ended 30th June; 1918, comprvrpri with the year ended 30th June, 1917. ■-: ' . . 1918. " ' 1917. 1 ■ .. - - - jg £' Customs 8,478,320 3,6.98,301 Stamp and Death' Duties ..' 1,924,392 1,699,021 Post and Telegraph 2,000,249 1,832,433 Land Tax ...... 1,414,832 - 715,859 Income Tax, 5,508,697 4,372,385 Beer Duty 259,461) 188,150 Railways 4,898,510 4,721,872 Registration and other Fees 103,233 108,394 Marine 38,533 43,080 Miscellaneous .... 738,416 528,930 Territorial 200,257 214,219 Nat. Endowment Revenue.. 108,824 100,493 Other Receipts 42,628 39,023 ' ■ 20,822,471 18,263,172. Increase for year 1918 £2,559,299. EXPENDITUEE. ■ Expenditure, for the three months ended' 30th June, 1918, compared with the corresponding period of 1917. . ,;'. „, .; : Permanent" Charges:* : '"■ "'" * "1918." '~I9YC £ £ Civil List 5,711 5,219 Interest and Sinking Fund.. 1,814,823 1,128,259 Under Special Acts 433,085 _ JOTJOI^ "^^nnuaT^^r^ria-Uons^'^;^- -■> Legislative 7, ".. .'."i-.".';'.;-.."-...':""'7,251 " 4,793' Finance-...:.....-.;. 1..;;..-.-.. , -37,894 32,497 Post and: TglegraphJ >!. a. '•'.'. ."'.';:• ."143,189 219i7i0 Railways;-:;.. .-■; i.' ;':>■-;:.....-: -: 760,142 ■ ;667,058' ]>!iblicßuildlngs-. J-."i>■;•;'.V....' "•■120,045- 17,154 Native C:.".. 1;;..'..','.'....7...'.'V C~5,446 4,912 Justice". 1;,;';..-,.;.. W. A<< W. ;'■■•.. -62,780:, 87,455 JHnes^vvl'.Vi^ir.'rtW.?;;. 1- . 12,242.' 5,151 Internal-Affairs .-.-fvi ;V;V;;: VS. 14l;l75 113,711 Defence':; :'...:';..v.'.v..':..;.'.;:iV.-^.68,471 79,517 Customs:and Marine „i:;.'.-.-:■" 38,172 30,029 labour"'■.<•;::'..:.S.'.;';;:..^Y '"• 7,158 . 0,601 Lands-"and Survey:; l;;.-.".';".i.i,";;.;r45,3i)2 : 36,677 Agriculture: 1.;, -. ::»-..,. ...-..^38,120 40,574----liflucatipn'•..-.:.-....-:.:.;-.':;.-: 1: v 372,854 374,633 Servicea.'not provided for ..,:';> .44,815 103,0<8 '-;' l.': ; ; .v-.i.. . . : i,5p0,08.6 1,824,725 . Totals ■i...:.;.v.....'.....:. -4,053,705 ..3,255;912* Increase during 1018 quarter ..-..<" £797,793.•' „';pjiHLie ■'WORKS FUN^p;;fM;V Statement/ showing the positipn,;'.i)f;,'',the'' Public Works Fund from :Ist -April,/. 1918, to 30th June, 1918. :.::Z.'^'-^':k '-. ;■•,:' ■■■• .-•■•■.'• ■:.--•-.. ..•,-.. y.;;£".>;-■:l';;y Balance, on Ist. April,' 1918..';... •:'255i539V-t,' >' Receipts , ;.....;,..."...: .360,232"'.: - ■:'•:■•- - '. ■'■■ V' ■':;':•■"<:: •''. 655,771 ""vrExpenditure ..................... 171,158-!,:; ,-,. Balarice'bn'3dth June," 1918 .'.";. 484,613 "•'■"•■