DOMINION’S FINANCES.
ESTIMATED DEFICIT. WELLINGTON, Jan. 2. To-day the Government faces a deficit of £4,050,000. This announcement was made, it is understood, to the Coalition Caucus. Of this amount, the increase in the exchange rate will affect the national finances by £3.050,000, according to the estimate put forward. This is made up as follows:
Drop in Customs duties ... 1,000,000 Indemnity to hanks 1,050,000 Increase in overseas debt charges 1,000.000 To this must he added the present deficit of £1.000,000. The Government has budgeted for a deficit of £877.000, -which, with contingencies, would probably reach £1,000,000. The actual position at the end of the financial year is difficult to forecast at the moment, for in the present quarter the Government will receive most of the income tax. The economists hold the view that £2,000,000 would be a manageable deficit, and in order to conform to this view it would be necessary for the Government to budget for extra revenue of just over £2,000,000.
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Manawatu Standard, Volume LIII, Issue 50, 26 January 1933, Page 7
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162DOMINION’S FINANCES. Manawatu Standard, Volume LIII, Issue 50, 26 January 1933, Page 7
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