PUBLIC ACCOUNTS

Evening Star, Issue 22325, 29 April 1936, Page 8

PUBLIC ACCOUNTS

DOMINION’S FINANCIAL POSITION APPROXIMATE SURPLUS Of £270,000 CONTINUED PROGRESS IN RECOVERY INDICATED [From Our Parliamentary Reporter.! WELLINGTON, April 29. The Minister of Finance stated today that the public accounts for the last financial year ended March 31 last have now been completed except for a few minor adjustments. He pointed out that before a precise statement of the revenue and expenditure could be given the accounts would have to be audited. He' stated, however, that on the figures now available the surplus was approximately £270,000. In total the revenue for the year amounted to £26,170,000, made up as follows: — Taxation, £21,556,000. Interest, £2,719,000. Other receipts, £1,895,000. “ This revenue total is £430.000 in excess of the estimates as printed in the Budget statement, but it will be recollected that subsequent to the Budget being brought down a further review of the revenue estimates was made, and on the basis of- this review it was considered that the receipts would exceed the Budget estimates sufficiently to allow the "i per cent, increase in salaries and restoration in pensions to he back dated to August 1 instead of October 1 as was originally contemlolated. the additional amount involved 'being about £140,000,” said Mr Nash. “ Allowing for this the revenue received in the total exceeded expectations by approximately £290,000. The net expenditure for the year amounted to approximately £25,900,000, which was £60,000 in excess of the appropriations for the year. “The outcome of the year’s'operations.” added the Minister, “must be considered as satisfactory,'particularly the buoyancy of the revenue, which indicates continued progress in the recovery of the Dominion.”