A WONDERFUL IMPROVEMENT

Evening Star, Issue 18173, 13 January 1923, Page 2

A WONDERFUL IMPROVEMENT

PREMIER ON DOMINION FINANCE. REVENUE INCREASES A MILLION. “The revenue figures for the past month,” stated the Minister of Finance (Mr Massey) in an interview at Wellington yesterday, “ show a great Improvement as compared with even six months ago, and a wonderful improvement as compared with twelve months ago. The financial situation has gradually been genting better, especially dming tho last three months. I -think we have reached a stage where we may consider the position very satisfactory. We have still to remember, however, that there will be a falling off in tlie income tax collected during tbo month- of February—as I have indicated on several occasions. Still we canface that falling off now with confidence, and wo can look forward to being able to balance our accounts on March 31 next.” REVENUE INCREASES.

The position is summarised by the Treasury Department as follows Tbo revenue collected during tlie month of December last amounted to £3,426,317, a gratifying increase of £413,036 when compared with tho revenue collected during the same month last year. The priu clpal increases were: Cue toms, £209,489. Beer duty, £2,213. Post and Telegraph, £93,632. Income tax, £11,981. Railways, £168,736. Departmental and other receipts, £70,250. ’ Total, £563,301.

The decreases (principally in land- tax)

amounted to £149,265. The net increase for the month was £413,036. For nine months the revenue amounted to £17,169,856, against £16,305,626 for ;he corresponding period of tho previous y.j.,r —a net increase of £934,540. expenditure lessened.

Tho expenditure for the nine months ended December 31, 1921, was £21,755,387, and for the nine months ended December 31, 1922, £19,189,457 a decrease of £2,645,930. Under tho permanent charges there is an increase in interest an-d sinking fund of £111,688, and a decrease under Special Acts and civil list of £444,644. PRINCIPAL REDUCTIONS.

The principal reductions in expenditure under Special Acts are aa follow: Appropriation Act, 1920, butter subsidies, £120,000. Hospital and Charitable Institutions Act, 1909, £71.000. Pensions Act, 1913, old ago pensions £20,000. Widow's’ pensions, £17,000. Military pensions, £5,000. War Pensions Act, 1915, £IBB,OOO, New Zealand University Amendment Act, 1914, £3,500. Civil Service Act, ISOS, £4,000. Civil List Act, 1920, £5,000.

Land's Act, 1903, national endowment residue, £7,000. Education Act, 1314, £2,000.

The departmental expenditure lor the nine months ended December 31, 1921, amounted to £11,917,752, and for the nine months ended December 31, 1922. la £9,704,858—a decrease of £2,212,874, Th» principal decreases are: Stamp duties, £28,911. Working railways, £1,572,514. Postal and Telegraph working expense, £290,387.

Public buildings, £25,572. Department of Industries and Con. merce, £116,106. Mines Department, £10,635. Internal Affairs, £41,351. Mental hospitals, £19,915,

Naval defence, £50,010.

New Zealand military forces, £121,954 Customs Department, £20,106.

(Marine Department, £29,842. Lands and Survey Department, £44.607 Valuation, £16,153.

Agriculture, £52,814. Tourist, £22,714. Education, £82,788.

Tho decrease in railway expenditure if due to tho purchases of coal paid for las year, the bonus reduction, and tho it proved traffic.