PUBLIC ACCOUNTS

Evening Post, Volume CX, Issue 31, 5 August 1930, Page 10

PUBLIC ACCOUNTS

QUARTER'S FIGURES

£650,000 FALL IN REVENUE

The Public Accounts for -the first three months of the financial year, published to-day, show that the revenue for the period amounted to £4,172,123, compared with £-1,665,928 for the corresponding period of last year —a decrease of £493,805. Customs duties showed an increase of £88,576 for three months. This increase is made up of an increase of £153,149 for the month of' June, partly offset by a decrease during the first two months. As was pointed out in the Budget, it is quite clear that the receipts for June havo been considerably inflated by excessive clearances from bond due to fear of tariff increases. Stamp and death duties show a comparative decline of £226,115, and interest on capital liabilities of the Railways a decline of £380,000. The expenditure for the three months compares with that for the same period of last year as follows:— 1920 1930 Decrease Permanent appropriations ... 4,009,101 3,923.473 74j,G91 Animal Approproprtations .. 1,051,3'S 1,039,712 11,036 £6.320,542 £5,563,215 £757,327 The decrease under Permanent Appropriations includes large nominal decreases as follows: Interest £94,158, due to alteration in dates of payment consequent on conversion operations; £462,400 under Repayment of Public Debt duo to earlier payments made last year; motor vehicles duties and licences £92,039, duo to accounting fluctuation. The decrease under annual appropriations is only £11,636, but the economy measures taken by tho Government only became effective towards the end of the quarter, and a larger decrease will be shown for the balance of the financial year. To sum up the position, allowing for the inflation of the Customs receipts, the revenue shows a comparative falling off of about £.650,000, and tho expenditure, allowing for nominal reductions, a decrease of about £100,000.