BRITISH POST OFFICE REVEALS BIG PROFIT

Manawatu Times, Volume LV, Issue 7133, 3 February 1930, Page 7

BRITISH POST OFFICE REVEALS BIG PROFIT

Surplus of £9,000,000 £293,000 TO EXCHEQUER FROM WIRELESS FEES TAXATION OVER-ESTIMATED. British Official Wireless. Received Sunday, 7 p.m. RUGBY, Jan. 31. A surplus of £9,000,000 is revealed in the Post Office commercial accounts foi the yesr ended March last. This is the highest recorded in the history of the Post Office. Tho figures are: —Postal surplus, £9,250,000; telephone surplus, £500,000; tffiegraph deficit, £750,000. Cash receipts for wireless licenses totalled £1,358,000, against £1,234,878 for tho preceding year. After 12} per cent, had been credited to the Post Office for the oxpenses of management, etc., a balance remained of £1,179,501, of which £887,616 was paid ovor to the British Broadcasting Corporation and £291,885 accrued to the Exchequer.

Snowden Not Sanguine In Regard to Revenue STAMP DUTIES MILLIONS SHORT. NATIONAL FINANCE MUST PAY ITS WAY". Received Sunday, 11 p.m. - LONDON, Feb. 1. “I regret I am unable to speak sanguinely regarding the revenue side of the account,” said Mr. Philip Spowden at Loods. “Unless income tax receipts improve considerably before the end of March, we shall probably find the Budget estimates are not realised. Sthmp duties will probably bo several millions short; estate duties are also down, but there is a possibility of a reduction of expenditure on armaments and war debts. If trade improves, accompanied by cheaper money for which we are hoping, before long we may mike an improssion on the huge national dob.,, enabling a roduction in taxation, but national finance must pay its way. Wo shan’t commit raids and live on capital or outside capital to meet current abd recurrent expenditure. ’ ’