CITY FIANCES

Evening Post, Volume CXV, Issue 64, 17 March 1933, Page 13

CITY FIANCES

"A CREDITABLE CREDIT'

A question was asked by Councillor C. H. Chapman, M.P., at last night's meeting of the City Council whether the Mayor could give any indication of the probable balance ; at the end of the year—'credit or debit. The schedules before, the council, he, remarked, appeared to suggest that there would be a very substantial credit. If that was so naturally many citizens would be much relieved, but on tho other hand it might be said that the council had been too parsimonious and had not employed as many men as it might havo done.

'.'lf is the fact," answered Mr. Hislop, "that owing to the very great care exercised by all councillors and members of the staff wo are- going to end up with a creditable favourable balance at the close of the year, but in case it should be thought that wo should spend that it had to bo remembered that in the coming year we have to meet a very heavy bill. for. exchange and a falling off of revenue in certain directions, and if we are to continue in tho coming year on the same scaleas this year it will be necessary to carry forward the whole amount, together with any savings that may be possible from interest reductions."

Councillor Chapman: It means that a lot of th& sacrifices that some of our ex-employees have had to put up with wore unnecessary.

Mr. Hislop: Unless we have that credit balance we will have to cut down next year by at least that amount.