DOMINION REVENUE

Greymouth Evening Star, 9 November 1929, Page 8

DOMINION REVENUE

.INCREASE not SUFFICIENT. (Per Press Association.) WELLINGTON, November 8. The Acting Leader of the House, Mr Forbes, made a statement in Parliament to-day Jon the half-year’s accounts. He said : “The revenue for the six months was £10,169,347, compared with £9,183,309 for the corresponding period of the previous year, an increase of £986,038. After allowing for fluctuations of dates of accounting for various sums, and also for the increase in the petrol and other duties, fees and licenses collected for the Main Highways Board, the actual increase is £710,4'17,' which is not quite half the increase in revenue required for the year to balance the Budget. The Customs revenue for the six months shows an increase of £596,662 over that of the same period of the previous year. This is mainly due to an increase in imports by approximately £3,093,320, oh which duty has been collected as follows:—Motor vehicles £270,000; wines, spirits, etc. £120,000; other goods £98,000, primage £29,000. The extra one per cent primage since it has been in operation has accounted for £76,500 of ,the increase.” The Minister added: “On the basis of the six months’ figures for . the curJrent year as compared with the past year, the revenue has increased by £710,000, and the expenditure by £567,000, the difference of £143,000 being insufficient to wipe put one-half of last year’s deficiency of £577,000.” Dealing with loan conversion, he stated that the final operations in connection with the New Zealand Consolidated 4 per cent stock, amounting to twenty-nine millions, which matured on November 1, have been practically completed.