THE BUDGET.
REASONS FOR DEFICIT. EFFECT OF COAL STRIKE. (British Official Wireless.) RUGBY, April 1. Rather more- than half the Budget deficit is accounted for by the fact tnat the revenue, which exceeded £\405,00vi,J!>. is £19,000,0110 short of the original estimate. Of tne staple sources of tax revenue, namely, Customs, excise and motor duties, estate duties, stamps, income tax and super tax, only estate duties, with a. .surplus of 51,520,000 and super tax, with a surplus of £1,410.000 have- realised expectations. The excess of actual over-estimated expenditure is accounted for by increased payments to national dent interest, which was necessitated by a nigher hunk rate, and consequent higher discount rate on Treasury bills owing to the coal stoppage. Last vein’s deficit of £'14,000,000 was wholly accounted for by the £19,000,0.10 coal subsidy, and, although the direct cost of the coal strike as represented by this year’s subsidy oi £4,000,000 is much lower, the accounts show that the indirect loss to the Exchequer owing to the strike during the vear now ended lias been much heavier.
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Hawera Star, Volume XLVI, 5 April 1927, Page 5
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175THE BUDGET. Hawera Star, Volume XLVI, 5 April 1927, Page 5
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