DOMINION’S FINANCE.

Hawera Star, Volume XLVII, 8 February 1928, Page 5

DOMINION’S FINANCE.

INCREASES IN REVENUE AND EXPENDITURE. RETURNS' UP TO END OF DECEMBER. [BY TELEGRAPH—PRESS ABSOCI AT ON.] WELLINGTON, Feb. 7. An increase of over £.10,000 is shewn in the revenue for the nine months up to December 31, 1927, according to the public accounts which appear m a special gazette this week. The principal increases are in stamp and death duties, and in interest qn railways! capital liabilities, and mho principal decreases are in Customs, ’ana tax. «no post and telegraph revenue. Hitherto the Act required tire publication quarterly of an abstract of revenue and expenditure qf the preceding quarter. In accordance with the amending Act of last session, however, figures now published show the revenue and expenditure for the current, financial year up to December 31, .thus presenting a more complete statement of the position. The revenue received for the nine months amounted to £16,138,875, compared with £16,128,220 for the corresponding period last year, an increase of £10,665. The principal increases arc stamp and death duties £170,121, interest on railways’ capital lialblities £122,034, and the principal decreases are Customs £134,761, post tele ; graph £72,066 and land tax iw 5,63 b. The increase in the stamp and dealt duty occurs .in death duties and gill duty, and is an ordinary fluctuation. The increase in interest on railways’ capital liability is due .to an increase in capital liability and to the fact that the interest payments have been made earlier this year. The decrease ui oustom’.s revenue reflects dimiiiishec imports and was anticipated in assessing .the estimated revenue -for the year. The expenditure for the nine montin was permanent appropriations £ll,208,928, annual appropriations £7,025, 287, a total of £18,234,217, compared with permanent appropriations £lO,623,514, annual appropriations £6,99.8,230, a total of £17,621,744. For the corresponding period last year there was an increase of £612,473, made up of permanent appropriations £585,414, and annual appropriations £27.059. In the permanent appropriations the principal items of increase are interest £124,727, Repayment of Public Debt Act, 1925, £295,000, under special Acts £153,568. Under the annual appropriations the main increases are Cook Islands £15,407, Defence Department £18,645,- Department of Agriculture £29,299, Department of Education £45,223, Department of Scientific and Industrial Research £20,187 anil the principal decreases public buildings £15,596, naval defence £74,239.

The increase in interest is principally due to the interest payable on money raised during the financial year. The increase under the repayment of Public Debit Act is due to earlier payments under special Acts* The principal increase is, for subsidies to hospital and charitable boards, £49,01)0 and Hie balance is partly due to earlier payments.