COMMONWEALTH FINANCE.

Hawera Star, Volume XLV, 10 February 1926, Page 9

COMMONWEALTH FINANCE.

SURPLUS FOR HALF YEAR

ITEMS OF EXPENDITURE AND REVENUE. BY CABLE—PEESS ASSOCIATION— COPYRIGHT. Received Feb. 10, 1.30 p.m. MELBOURNE, Feb. 10. 'Che accounts of the Federal Treasury for the half-year “ended December 31, .showed a surplus of approximated £330,000. The expenditure ton departments and services other than business undertakings and territories totalled £20,787,008, as compared with £20,192,436 for the corresponding period of the previous year. The largest increase involved was in old age pensions, where the expenditure was £478,367 in excess of last year. Export, bounties and export control represented an increase of £108,210, while defence, and repatriation decreased by £103,880. Interest- on war loans amounted to about five million. The revenue from services and departments other than business undertakings and territories totalled £26,002, 660, iais compared with £24,986,432. of which the increase in taxation accounted for £403,735. Income tax realised £424,204 less, owing mainly to reduction of arrears. Coinage showed an increase of £211,435, mainly due to replacing British silver coins withdrawn from circulation. Commonwealth railways showed a deficit of £199,497 against a deficit of £254,993 for the previous year. The deficit on territories was £137,906, against a deficit of £236,594 for the previous year.