REVENUE AND EXPENDITURE

Evening Star, Issue 16628, 10 January 1918, Page 4

REVENUE AND EXPENDITURE

NINE MONTHS’ RETURNS. [Peh United Press Association,! CHRISTCHURCH, January 10. Sir Joseph Ward stated this morning that the returns of the revenue and exEenditure for the nine months ended 'ecember 31. 1917, were now available. They would nave been out sooner but for the difficulty experienced in obtaining final figures from several of the departments during the holiday season just completed. The decrease of revenue for the nine months had been £829,252, in six departments, as follows ; Customs ... „. £498,850 Stamps and Death Duties ... 5,319 Railways ... 302,127 Registration and other fees... 8,688 Marine ... ... 5,269 Territorial 8,990 Seven departments showed increases totalling £993,276, as follows—■ Post and Telegraph .„ ... £69,261 Land Tax ... ... „. ... 460,161 Income Tax ... ... ... 229,687 Beer Duty ... _ ... . ; . ... 27,490 Miscellaneous 184,297 National Endowment revenue 14,152 Other receipts 7,858 For the nine months referred to there was an increase of £164,024, when compared with the corresponding period of fast financial year. The falling off in the Customs and Railway revenue was proportionate to and consistent with the decrease shown in the previous monthly returns. A comparison of revenue for the 12 months ended -December 31, 1917, and December 31, 1916, showed a ”®^ rease hi- six departments of £921,290, hut the increase in seven departments amounted to £3,899,591, made up as follows:—Post and Telegraph, £59,653; Laud Tax, £461,153; Income Tax, £3,079,360; beer duty, £25,459; miscellaneous, £231,665; - national endowment revenue, £14,522; other receipts, £37,799. Deducting the decrease, there Is an increase of £2,978,301, represented carefully by payments of Laud Tax and Income Tax, during the period. The expenditure for the nine months ended December 31, 1917, by comparison with the corresponding period for 1916, shows a net increase of £240,137, which, is divided mainly between the votes for post and telegraphs, railways, agriculture, and education. Of the total amount of those increases, agriculture represents £177,339, education £92,267, post and telegraphs £56,374, and railways £38,785. Six other departments represent increases of £26,409, giving a total increase of £391,174, and there are decreases in nine departments amounting to £151,037, leaving a net increase of £240,157. The increase in the Agricultural Department is largely due to the moneys paid for the purchase of wheat and in the ordinary course of things. Later on this will be reduced, or repaid in full. In the Public Works Fund the expenditure under "appropriations” lor the nine mouths ended Decmber 31, 1917, compared with the corresponding period last year, showed a satisfactory decrease of £215,269. The total expenditure for that period amounted to £722,502, as against £937,571 ‘for the previous year. “This,” says Sir Joseph Ward, “is in accordance with the policy laid down some time ago of a decrease in the expenditure in this branch of the Public Service to enable as much of the loan moneys as possible to be devoted to the war expenditure of the country. The general position, on the whole, is very satisfactory.” Sir Joseph Ward added: "There will, of course, during the nest quarter be largo payments from both Land Tax and Income Tax, and I am quite satisfied that upon the completion of the current quarter’s revenue and expenditure the Consolidated Revenue will be in a strong and healthy position. There is, happily, a greater certainty at present of relief being given by a considerable increase of shipping for the conveyance of products that nave been largely held in the Dominion for some time.”