A YEAR’S FINANCE.

Hawera Star, Volume XLV, 25 July 1925, Page 6

A YEAR’S FINANCE.

. REVENUE AND EXPENDITURE. SOME BIG ITEMS. An important feature of the Einuncial Statement, delivered in the House of Representatives last night, "'as tne estimates of revenue and expenditure for the current financial year. Those were as follows: REVENUE. The total revenuue of the ordinary revenue account, details of which I give below, I estimate at £29,600,000 after going thoroughly 41'to the year’s prospects in trade and business as far as present indications point. The Customs revenue should produce £7,800,000 assuming that the imports recorded for the first six months of the present calendar year ar e maintained, and'provided no serious drop occurs in export prices. .. The estimates of revenue from direct taxation are based on the rates as reduced last year, and should not be exceeded. The anticipated revenues ot the principal business departments, such as Railways and Post and Telegraph, are higher as compared with those received last year and reflect extending operations.

ESTIMATES OF REVENUE. Customs 7 5 r? A S OOO Beer duty Got),000 Stamp and death duties ... 3,340,800 Postal and Telegraph Band tax 1,200,000 Income tax 3,350,000 Railways . . 7,700,000 Registration and other fees 190>00|> Marine jjvi’nnn Interest on public moneys ... 1,1.a),0U0 Local Bodies’ Loans Act, 1908, section 76 57’^, Rents .of buildings Tourist and health resorts .<. ,w!Miscellaneous ... ... Territorial 212,000 Departmental and other receipts 031,400 Total 29,600.000 EXPENDITURE,

The expenditure, as submitted in the estimates, totals £29,024,616. This is £758,145 more than the amount appropriated last year, but of this, approximately £580,000 is ■ directly accounted for by anticipated and unavoidable new liabilities of a national character, such as £150,000, disabled soldiers treatment, war graves, etc., representing the remaining liabilities of the Mar Expenses Account now closed; £160,000 naval defence, second cruiser; £IBO,OOO interest ; and £90.000 genera.] election. The balance of the increase, £178,000, is not above the amount due to. normal annual expansion for education, scale increases in salaries, and other services ; and the estimates must be regarded as still reflecting the Government’s policy of economy and saving in public expenditure. Headings of the estimated expenditure : Permanent Charges. £ Civil List 29,800 interest, sinking funds and debt repayments 9,069,001 Pensions— Old age, widows, etc.,... 1,245,823 War .. "... 1,100,000 Special Acts 1,375,500 Annual appropriations ... 16,204,492 Total ...£29,204,616 ESTIMATED RESULTS. The estimated result, therefore, is:— Revenue £29,600,000 Expenditure ... £29,024,616

The difference, £'575,384, will be required' to provide supplementary estimates and for taxation reductions and concessions now under consideration. As already stated, it is proposed to transfer up to £1,000,000 from ordinary revenue account to Public Works Fund. The position- of the Ordinary Revenue Account at the close of the year 1 estimate will be: — £ Balance forward Apl. 1, 1925 4,150,806 Add estimated revenue ... 29,600,000 •Total £30,599,616 Deduct— Estimated expenditure ... 29,024,616 Supplementary estimates, taxation and other concessions (sav) 575,000 Trans to PAY. Fund, up to 1,000,000 Total ... £3,151,190 Estimated credit balance on March 31. 1926 ... ... £3,151,190