NEW ZEALAND FINANCE.

Hawke's Bay Tribune, Volume VI, Issue 275, 6 November 1916, Page 2

NEW ZEALAND FINANCE.

£2,000,000 SURPLUS IN SIGHT. Auckland, Nov. 4. The Hon. A. M. Myers, Acting Minister for Finance, has furnished the following figures showing th? revenue and expenditure for the consolidated fund for ths seven months ended October 31st, the revenue for the same fund for the month of October, also rhe posi.dju of the Public Works Fund from April Ist, 1916, to October 314>r. , 1.916. The figurse show that for the past seven monhs the revenue exceeded that of the same period of last year by £995,316 net. The increase of expenditure during'the same period was £289,813. As is usually the case the increased expenditure occurred chiefly in the permanent charges and under special Acts. This is accounted for by the increased charges for interest and sinking fund war pensions and war bonus. Departmental expenditure shows a net decrease over the same period of last year of £130.106. The credit balance on October 31st, amounted to £1,809,418 and as the surplus of last 5 7 ear carried forward was £2,166,077 it will be seen that the balance has been reduced by £356,659 since April Ist. This, however, is not unusual, Mr. Myers explained, as the revenue for the winter months is always below the average. ; The Mjnister states that present prospects indicate that at the end of the financial year there will be a surplus of considerably over two millions.