HOMELAND FINANCE

Greymouth Evening Star, 28 February 1935, Page 7

HOMELAND FINANCE

LATEST TREASURY RETURNS UNFAVOURABLE BALANCE (BRITISH OFFICIAL WIRELESS.] (Recd. February 28, 8 a.m.) RUGBY, February 26. The latest Treasury returns show that the ordinary revenue for the financial year to February 23 amounted to £620,169,263, compared with £631,766,084 during theh corresponding period of last year. Including selfbalancing revenue, the figures are £698,409,263 and j £708,596,084 respectively.

Income tax collected last week amounted to £12,821.000, bringing the total to date £188,490,000, . against £186,673,000 on the corresponding- date year. ,

The total of ordinary, expenditure to last Saturday was £632,653,933, compared with £619,562,255 at February 24, 1934. With self-balancing expenditure, the total for tlie current year is £719,055,601. as against'£7os,2ls,3oo.

AFRICAN BUDGET .CRITICISED.

(Received February 28, 10.35 a.m.) CAPE TOWN, February 27.

Criticism of the Budgqt, on behalf of the Malan Party, was voiced by Dr Vandermerwe. He said that wealth was being vested in super-tax payers, While the country was impoverished. Exports were falling, while imports, mainly motor-cars, were increasing. Thirteen millions in postal savings compared unfavourably with New Zealand’s forty millions. The Budget rests on gold speculation, instead of rebuilding economically. ’New tariffs tightened the Empire economic ring, instead of widening trade . relations with other countries.