Review of Railway Revenue for the Year

Manawatu Times, Volume LIV, Issue 7299, 28 October 1933, Page 7

Review of Railway Revenue for the Year

net return increases. An Increase in the net railways revenue of £12,551 for tho year ended March 31, 1933, is disclosed in the report of the Government Railways Board presented to Parliament yesterday. “The revenue for the year was £6,034,403, as compared with £6,508,948 in the previous year, a decrease of £474,5-15. On tho other hand, however, tho expenditure was reduced to £5,180,859, as compared with £5,670,955 for the previous year, a decrease of £457,096,” the report states. “The satisfactory result on the expenditure side was achieved by tho statutory reductions in salaries and and by a systematic and careful pursuit every practical means of economy. (For the current year it is anticipated that the revenue will reach £5,878,000 and the expenditure £0,157,935.) “The net revenue for tho year was £BSO 544, as compared with £837,993 for the previous year, an increase of £l2 551. The net revenue has increased progressively over the last two years to an aggregate extent of £161,817, equal to 23.50 per cent. “The improvement in the net results achieved over the last two years has been secured chiefly by the reductions which have been obtained in tho expenditure. .There is a definite limit to which this process can go, and having regard to what has been already done in this direction it will be recognised that further reductions in expenditure will be progressively difficult to obtain. The board will continue the policy of keeping costs down to the lowest figure compatible with a reasonable standard of service to the public and with due regard to the legitimate interests of its large staff.”