A NOMINAL INCREASE

Evening Post, Volume CXII, Issue 107, 2 November 1926, Page 8

A NOMINAL INCREASE

REVENUE FOR HALF YEAR

DIRECT COMPARISONS NOT

POSSIBLE

OWING TO CHANGED ACCOUNTING

METHODS.

After making a^owance for a .; change in the system of accounting; brought about since last yea*, the revenue for the first six month* o£ the current financial year shows only a nominal increase over that for the corresponding period last year. The total revenue received for tlit aix months, according to an official summary issued by the Treasury, amounted to £9,801,547. ' Tor tho same six mouths of laftt year, after excluding railway Tevcnue, which is now paid to1 a separate Recount, the revenue received «v £8,-' 647,350; so # that the firßt half of th« financial year 1926 shows an increisa in revenue of £1,154,191 over the sufte period of last year. • Included in the current half-year's revenue, however, are the following items which were not received during the first half-year of 1925 s— * Interest on Bailways Capital . Liability i,010,37»; Interest on Public Debt Bedemption Fund 136,818 £1,147,189 The increase over last year i», therefore, nominal. INCREASES IK EEVBNinB. The principal increases are:— •'. £ ■ Customs . 48,484 Post and Telegraph . k ....... 150,117 Income Tax ;... , 143,501 Departmental Receipts ...... 40,915 and the principal .decreases:— Stamp and death duties .... 64,849 Land tax 27,567 Interest on public moneys .. 278,839 EXPENDITURE. The total expenditure for the., tit months was as follows;— £ Permanent charges 6,683,615 Annual appropriations (ex--*" eluding railways espenditure) 4,800,885 £11,284,000 as against the total for the first six months last year:— £ Permanent charges ........ 5,837;7M Annual appropriations (excluding railways expenditure) 4,208,245. £10,136,038 an increase of:— Permanent charges' 845,822 Annual appropriations 302,140 £1,147,968 But from this must be deducted for comparative purposes payments amount* ing to £506,000 made in the second half of 1925-26. The principal increases in permanent charges are: — Interest „ 167,908 Bepayment of Public Debt Act, 1925 390,000 Under special Acts 277,880 Under annual appropriations the principal increases are:— Vote: . £ Legislative Departments 32,149, Department of Internal Affairs 52,19* Printing and Stationery Department 25,619 Naval defence 34,148 Defence 24,095 Customs 54 >O ~T Department of Education 73,409 The change in accounting brought about by two important policy Acts— tho Bailways Amendment Act, 1925, and the Public Debt Bepayment Act, 1925 —do not enable periodic eompari- * sons between 1925-20 and 1926-27 to be easily made, and a sure survey in simple form is only possible at »• close of the year.