NEW ZEALAND FINANCES

Evening Post, Volume CVI, Issue 89, 12 October 1923, Page 6

NEW ZEALAND FINANCES

IMPROVEMENT BEING SHOWS

A statement respecting the .financiai position of the Dominior: during the part half-year, as compared with the first half of the financial year. 1922-23, v?sg supplied to the Press last night. The- revenue- shows a ,net' increase v? £516,026. The principal increases ar«: Customs, £813,873; income-tax, £XV 636. The decreases are: —Post and Telegraphs, £155,055; stamps^. £25,740; interest on public moneys' and miscellaneous, £339,441. The last-named decrease is mainly due to the fact that interest has not been recouped this year from the Discharged Soldiers' Settlement Account, the money being required in the account for re-issues and advances.

The total expenditure for the five months is £405,499 less than for the same six months of 1922. Under the heading of permanent charges the interest and Binking fund is slightly increased by £15,021, but under "Special Acts" there is a reduction of £12,483.

Under the annual appropriations the reductions in expenditure are fairly general in all departments, the principal decreases being—Railways, £283.858; Post and Telegraph, £27,483; health, £45,----54 6; industries and commerce (wheat, nominal), £65,637. The main increases are:—Pensions, £22,825; printing office (nominal), £73,----923; mental hospitals, £10,502; naval defence, £40,663; lands and survey, £20,900; education, £99,347; defence, £18,252. Taking the net increase in revenue and decrease in expenditure, the statement says the position is £921,525 to the good, as compared with the same sis months of 1922.