PUBLIC ACCOUNTS

Evening Star, Issue 19699, 28 October 1927, Page 11

PUBLIC ACCOUNTS

HALF-YEARLY SURVEY HALF MILLION REVENUE INCREASE LARGELY DUE TO CUSTOMS. [Pek United Pkess Association.] WELLINGTON, October 27. Tlio public; accounts tor the quarter ended September 30 appear in a .special ‘ Gazette ’ this week, and the Minister of Finance (Mr W. Downic Stewart) has made the following summary of the position for the first six months of the current financial year:— revenue. The amount of revenue received for the six months total £10,32(5,(393, as compared with £9,801,547 for tho corresponding period of last year, an increase of £525,14(5. Tho principal increases arc: Customs, £308,956; stamp and death duties, £101,784; income tax, £25,547; interest on public moneys, £33,191; interest on railway capital liability, £44,489; interest on Public Debt Redemption Fund, £116,202. Tho increase in the Customs receipts is duo principally to the recent heavy withdrawals from bond, and will probably bo offset later in tho year by /» decrease in the returns from this source. -The increase in the interest on the Public Debt Redemption Fund is largely nominal, being duo ebicliy to tho fact that payments have boon received from tho Public Trustee earlier this year than last year. The principal decreases are: losfal and telegraphs, £76,246; land tax, £21.400; recoveries on account of expenditure of previous years, £36,39/. EXPENDITURE. The expenditure for tho six monlhs was made up as follows; —Permanent ■appropriations, £6,336,020; annual appropriations, £4,606,639 —a total of £10,942,659. as compared with permanent appropriations and annual appropriations £4,600,380, a total of £14,284,000 for the corresponding period of last year. The decrease of £341,311. is made up as follows; —Permanent appropriations, £347,595 (decrease); animal appropriations, £0,254 (increase) —£341,341. The expenditure under permanent appropriations show’s a decrease of £34; ,- 595, but the decrease in the payments under tho repayment of the Public Debt Act, 1925, is purely nominal, being accounted for by the fact that no transfers have been made so lar this year. , . , The increase of £42,439 under special Acts is traceable principally to tho following items:—Subsidy to Railways Department for losses on branch lines and isolated sections, £51,000; subsidy to National Provident Fund, £14,000; old ago pensions, £IO,OOO. . These increases are offset to a certain extent bv the fact that no transfer has been made this year to advances to other Government accounts in terms ot section 13 of tho Finance Act, 1921-2-/, as against £30,000 transferred during last year. . The expenditure under the Civil Just interest and sinking shows no notable variation from 1926-27. The expenditure under tho annual appropriations for six mouths shows very' little alteration irom that of last year, there being a slight increase of £6,204 in the total. . Tho principal increases are;_ 1 rime Minister’s Department, £10,407; Post and Telegraph working expenses, £41,322; maintenance and repairs to mads, £18,228; Defence Department, £14,135; Department of Agriculture, £T<r 683; Department of Education, £' , 3 067; Department of Scientific and industrial Research, £10,804; unauthorised services not provided lor, £11,292. T ~ The principal decreases arc: Legislative departments, £26,115; Rrinnng and Stationery Department, £14,331; Naval Defence, L’73,390; Marine Department, £10,390.