DOMINION FINANCES

Inangahua Times, 31 March 1934, Page 2

DOMINION FINANCES

TAXATION EXCEEDS ESTIMATE. SAVING ON EXPENDITURE EXPECTED. (Per United Press Assn.) 41 CHRISTCHURCH, Last Night. The financial year for the public accounts ends on March 31 and in response to an enquiry as to the outcome of the budget for the year, the Minister for Finance, Mr Coates, salU that until the revenue and expenditure transactions were cleared through the Treasury, which would take another two or three weeks, he was not in a position to make any preliminary announcement of the result. The Minister stated that the principal items of taxation had exceeded the budget estimates and that, on the other hand, the expenditure for the year had been held within the estimates; in fact, it was anticipated that there would he some saving on the expenditure side when the budget was brought down. It was estimated that there would be a deficit of £2,094,000, but as a result of the improvement that had taken place, which could be taken as an indication of improvement in our economic conditions generally, the outcome was better than was antici’ptaed and the Minister stated that it was evident that the deficit for the year would be substantially less than the forecast in the budget.