UNEMPLOYMENT FUND

Feilding Star, Volume 11, Issue 4179, 28 February 1934, Page 6

UNEMPLOYMENT FUND

Nine Months' Finance OVEII £3 MILLIONS EXPENDITURE UP £282.000 O’er Pres*? Association) Wellington. Feb. 27 From the brief statements officially available regarding tlie income and expenditure of tlie Unemployment Fund for tlie nine moutSiis ended Deccmlier 31 last it is evident that the Board’s expenditure has proceeded at an accelerated rate, justified by tlie elasticity of tlie income tax of a shilling in the £ oil all wages, salary and income for services. This emergency tax fairly reflects the wage and salary turnover of the country and demonstab's that business and employment must be Improving, for the nine months’ receipts from this source total £.‘>.098.039, an improvement on the c*orres|H»nding jierio«l of the previous year of £508.448. ‘ The quarterly levy also shows improved receipts, the total for the nine months having l>een £324.534, which is over £SOOO better than the receipts in tlie corresjiouding jieriod of tW previous year. It is difficult to accurately estimate the gross income for the current year, as some of the payments are not regularly spread over the winTe |»eriod. However, on the assumption that the final quarter will maintain the indications of the first nine months, tlie income of the Unemployment Boarl should amount to well over four and half millions. On tlie exi*»nditure side the figures show that the Board has fairly kept pace with improved resources. Its expenditure—apart from the commitments of tliefuture under the building subsidy scheme—amount ted to £2. 923.935 for the* nine months, an increase on the previous year's i»eriod of 282.459 and it now faces the increased responsibility of the winter period.