THE FINANCES.

Hokitika Guardian, 24 April 1923, Page 4

THE FINANCES.

STATEMENT BY PREMIER. OAMAIiU, Apiil 22. Details of Lho country’s financial position wore (riven at meetings addressed by the Prime Minister, Rt lion AV. p. Massey, at Pukeuri and Pnpaknio on Saturday nioht, lilting tributes brine; paid to Air .Massey by the audience at loth meetings at the very satisfactory slate of affairs disclosed. "I don't suppose.” said Mr Massey “there is anyone in New Zealand more pleased than 1 am at the very satisfactory improvement of the finances of the

g | country. The position to-day. ladies Jj j and gentlem: u. is that wo have a Kuril plus of £1.315.053. (Applause). The jj ordinary revenue for the vear is £27.3 77<5*.! 1:t less than the lotenwe received Jj in tiic previous year, hut it is £1.320.il i 1 b‘l in excess ol the estimate.” The [f principal increases over last year’s re--7 venue were Customs CDfJfj.P.Vi; beer m. duty, £153.230; M.-.mp and deatli dtt- “ lies £130.7-7 Railway. £fifi.(i:'-' : W j ic-liatitoe.;. £03.307; Depr.i tineiuni and |-| | oth-r receipts, CIMi/lO!.). The last item j-r ! is a nomine! increase, due to an ntnend- [ j ! ed system of n;-;*o inning. Against those tj increases there is the anticipated dell I crease in land and income tax of £:!.- US : 207.309. The mlticiions made in taxar| lion rates were estimated to espial iho j | sum of £0211. 111;!, hut notwithstanding | J this, the tax actualh received v. ns only I I £220.5(10 short of tin emulate. j=| j A- in expenditure, the total expendi[”S ti|l 'v on* of the ordinary revenue ac|jj ! count under the permanent charges j jj and annual appropriations amounted to I.J I £20.2(13.7011. being £'2.2(13.97* less than O j the expenditure for the previous year. j=; ' and £ I .S'nllo le.-s than the amount r"j I appropriated by Rariiaiueu!:. The de[j! crea>.’ in exp,unlitlire in annual appro- □ | piiatious and under special arts. !U j ibercl’ore (apart Irnm interest and р. I sinking land charges). was £2.000.757. r“j ' this indicating -still lurlber the adminispl Irative savings cli'eelvd. The decieaso- □ j in departmental expenditure are <<nnP | men to practically all votes, the prinLI ' fipal reductions being : I’o-t and I eleL| 1 graph working expenses £330.1 in; Pub[■'J ! lie buildings. £31.217: Relomv. and N'a[J val £222.020; hands and Survey £93.Ci i 295; ( iistoiiis, £33.123; Railway-. £l.Cl 7)27,053: Education, 205.571; AgriciilUj j t iiro £00.<179 ; Marine, £31.191. The j j \ surplus as the result of the ;:be\c. there jj | fore, is as follows: Revenue £27.579.- „ -113; Expenditure £20.203.709 ; Surplus - C 1.315.053. The surplus i- due prineipally to two oul-lmiding fact .; Eir-tly !Jj the recovery in all sourers of revenue (except land and income tax. a <!o. s| .-lease of wliieli was anticipated) ; and 1 ■ secondly. reductions effect-d hy tlm p<liev of economy tlu.i ;■ brine c::cit:.-'"1'I throughout all tlepai im-. ot ••• during the J) ye: il v, a .-. Uece -ai.v to make Us -of " '!’i-a-,ui'v Bill issues in anticipation el jJS ’to emie on one ecea-ion. and inen only J duly redeemed at the close of the year. 6 there lieine thou no Tt<a-urv RilU out. n s* .-landing. * The r- lilt o, the year’s operations r$ may he summarised as follows; iktl--8 auce brought forwcv.l !-; April 11122. J £7.531.307: Surplus. 31st March. 1923. * £1 ('315.053; total. £S.S 17.0,59. |!,>- I J duct payment to loans redemption a<- “ I (omit. £3.1 59.903 : transfer 'to Ris- j с, charged Soldiers' Depreciation Eund. “ 059,05:1. Total £3.209.900. leaving a j | j baiam e at 3! st MaiT. 1923. of £7,.-! * I 937.(199. I j A- to the Public Works Eund-. the j “ j CMC ic.lituro cut lII' the Eund amounted j t f ‘ only L'3.-'s('..(||K, as com:,arc,l »oh • ~ \ £s.us7 j„ IPM y. wbicb vr, an V, j ! Pti. it heavy year, due lal'pelt !, j P" - 1 a« imulaii I 3 Pul.be ; VVo k- Mel.i at 31 .1 Mare!.. .1922. v.s , | J*i ii* is*. • vt*:f 5 lit* Miutmiit ( f L’». j ; 'M • A;• nn • n m..«- pul-li- w.rU - ;.»•»,I ! j 1 : 1” '■ purpoj Ibe ere— debt m 3| Si March. i 923. | j however, rental ii •• |»raeti; a'lv tin • :ii,.e. ; | and Ollier aceouni.-;. i7.r, ti mpiion j J or pureb.e-a and eaueelial ion of -ecuri-j lie-. Tile urdiimry revenue aeeouin ; I i im,i.-a.' |. £;. 1 7:*.*»;>. and other ne- j j omuls £ I .Sto i. Thus the tolal n-- ■ i flemptioiis and i micella; ions i rsnll iup I j from t lies*- .sourc.-s approximately I I all.-. 1 ill ■ neu I otlier iba.i ) : j thu.-e raised for Mlomptiun purpo- . I | Tim sjn.siLion is. l heivi'ore. ilia; lhe ; | Mar's trails, ici ions -imw : -C) > \ .-ur- i 1 | pin- <)i ';! .315,1 is;j in the ordinary re- j 1 venue an cunt; (2) A sum of £5.52' - j | and * .Liter a.ncunts has heeii found or ; 1 debt reduction: (3) The -um of £3.-1 ' 7 71J.lt!;' has liaen spelil out M tb<‘ I’llb j ii- Work.- Eund. The nulstuuiiiu,;; j.’i.b- I ! ii: debt remaim. appro ,im.ltaly muili . rnl. (1) Sinking Enud ol lieation- and i'lliifloci dal.t reductions wen fully maintained by payment of 1 1*i 1 ; out of ordinary revenue. The result of I j vear'- operation-' reail t aetiier vuth 1 i t!i" o-.a 1-,-a.s i fit ik‘ ii a U re- ; ud bank r' j ' I turns (hr added) e.nve ahnudanl pr . . | ' |of the r. tmcrai it 0 po'.Vi v ol the I ! coiinny. Tin- s .nml liiie.’nuai p.i.-ilmni attain: d should iaa l aearded a> a moan- i 1 oi freeiuo; trade and roiiiim’iv, from serious conditions. brnu;_;ht ahnut j ihronoh hieli taxation, rather than bo tal: -ii a- a,n indication thai further economy is not needed. .Altlmnoh our rate of 1. xprtalil in ■ bus been redlie. fi. ii i; -till miieb in excess ol pn war .- ta oilards. ! n