PUBLIC ACCOUNTS

Hawera Star, Volume L, 5 August 1930, Page 9

PUBLIC ACCOUNTS

POSITION REVIEWED DROP IN REVENUE EXPENDITURE ALSO DOWN. (By Telegraph —X J ress Association.) WELLINGTON, Aug. 5, The following statement has been issued ])v the Prime Minister: The public accounts for the first three months of the financial year show that the revenue for the period amounted tc £4 172.123. compared with £4,665,928 for the corresponding period of last year, a decrease of £493,805. Customs duties showed an increase of £88,576 for the three months. Tub increase is made up of an increase oi £153 149 for the month of June, partly offset bv a decrease during the first two months. As pointed out- in the Budget, it is clear that receipts tor June have been considerably - inflated by excessive clearances from bond, due to a fear of tariff increases. Stamp and death duties show a comparative decline of £226.115, and interest on the capital liabilities of the railways a decline of £380.000. The expenditure for the thiei months compares with that for tlu same period of last year as follows: Permanent appropriations, tl,669 164; 1930, £3,924,4/3. Ihe decrease of £745,691 in the annual appropriations made last year, also motoi vehicles and licenses (£92,039) is due to accounting fluctuation. It_um m noted that the decrease under the annual appropriations is only £ii,ooo. but the economy measures taken b) the Government only became effective towards the end of the quarter and a larger decrease will be shown, foi tlio balance of the financial yeai. The decrease under permanent appropriations includes large nominal decreases as follow: Interest, £94,108 due to the alteration in the dates ol pavment consequent upon conversion operations; £462,440 under payment ol the public debt due to earlier paj' ments. , . „ . r , „ Allowing for the inflation of Customs receipts, revenue showss a comparative falling off of about £ooo,ooo. and the expenditure, allowing for nominal reductions, a decrease of about £IOO.OOO. •