N. Z. SURPLUS

Grey River Argus, 30 April 1936, Page 5

N. Z. SURPLUS

OVER QUARTER MILLION Revenue Buoyant PROGRESS OF RECOVERY. PARLIAMENT BLDGS., April 29. There is a .surplus of approximately >£270,000 in {the public accounts of New Zealand for tjie financial year ended March. 31st la#t. The figures were made available by the Minister of F'iua-uoe. Hon. W. Nash, to-day. The revenue for the year amounted to £26,170,000. The expenditure for the year, was £25,900.01)0. The Minister points lo the buoyancy in revenue as an indication of continued, progress in tho recovery of ;the Donvinion. 'The revenue for the year was made up as follows: — £ Taxation 21,556.000 Interest 2.719.000 Other receipts 1,895.009 ‘‘Thi.s- revenue total is £3,430,000 in excess of the estimate,s, as printed in the Budget Statement.” said Air Nash, ‘‘but it has to ho recollected that, subsequent to the. Budget beiiid brought down, a further revu'e,w of the revenue estimates was made, and, on the basis of this review, it was considered that- the receipts would exce®t the Budget estimates sufficiently f ow|»'l low of a .seven and a half per cent, inereasjj in and ol a restoration in pensions lo be backdated to' Augusf, I, instead of to October I. as w.i.s originally r.oiitemplateid,'the additional amount involved being about £140.000. Allowing for this, the revenue received, in Iota) exceeded the expectations by approximately £290,000.' The net expenditure for the year was £60.000 in excess of the appropriations for (lie year l'he outcome of ihe year’s operations must bo considered; as satisfactory, particularly the buoyancy of th** revenue- which indicates continued progress in the recovery of the Do miiHon. ’ ’

REVENUE BUOYANT. WELLINGTON, April 29.. A surplus of approximately £2'o,000 is reveah'd in the Public Works Account for the financial year ended Alarch 31 last. 'l’he revenue for the year was £26,170.000, and Ihe expend it lire £25,900.000. Air. Nash, in making the statement, pointed to the buoyancy in revenue as indicative of the continued progres of the recovery of the Dominion