DOMINION'S FINANCE.

New Zealand Herald, Volume LIV, Issue 16459, 8 February 1917, Page 9

DOMINION'S FINANCE.

—- —.*.—— ;. FIGURES 'FOR TEN MONTHS; .. REVENUE INCREASE, £740,279. . EXCESS OF £931,863 SPENT. MINISTERIAL STATEMENT. 0 .y 3 The usual monthly statements showing v the comparisons of revenue and expendi- . ture in*Hhe Dominion were yesterday f , made availablo for publication by the ,1 Hon. Arthur M. Myers, Acting-Minister . for Finance, and are given below. The i figures show the revenue for the month j of January, 1917. and the 10 months I ended January 31, 1917, as compared with i that for January,,, 1916, and the 10 j months ended January 31, 1916. The 3 expenditure for the 10 months ended j January 31, 1917, in comparison with § that for the corresponding period of the , previous year is also given, together with , the position of the Public Works Fund 3 from April 1, 1916, to January 31, 1917. , "The comparison of revenue for the . month of January. 1917, with January, . 1916," said Mr. Myers, in reviewing the figures, "shows a falling-off for the 1917 period of £302,854. The chief headings • showing a decrease are stamp duties, in-. • come tax and railways. The stamp and ) railway reductions are merely the ordin- [ ary fluctuations. ' The reduction in income •" tax will be recovered 'during the current month. The deficiency for the month of January is therefore more > apparent than V real. " r ':U ' "Taking jhe revenue for the 10 months we find a net increase of ; £740,279 for the 1917 period as compared ' with' the 1916 period," proceeded the Minister. "The only two notable decreases are in the heading of land tax and income tax. The land tax decrease is due entirely to the alteration in the | incidence of the mortgage tax. ; Considerable proportions of this reduction will be recovered during tho current , month when tho income tax has been paid. The whole of the decrease in the income tax will also be recovered during , the current month. '< Increased Expenditure Analysed. I " Coming to the expenditure, it will be ' seen that tho net increase in tho 10 months ending January, 1917, as compared with the corresponding period of 1916, amounted to £931.863." said | Mr. Myers. "The chief increase I is to be 'found under the heading of permanent charges, interest and sinking fund, and under special Acts. This is accounted for by the increased interest on loan expenditure, war pensions, and war bonus, chiefly. There is an increase of £60,271 in the expenditure of the Post and Telegraph Department. The increased revenue, however, from this : Department amounted to £134,586 for the same period. "The increase in the Internal Affairs Department's expenditure is accounted for by the extra expense .incurred by the Government statistician. There is also an increase of £41,545 in the expenditure of the Education Department. The Railway Department shows a commendable decrease in the expenditure of £130,8j6, while its > revenue for the ,same period shows an increase of £640,038." Statement of January Revenue. 1 In the following statement is shown* the: revenue for . the; month of - 1 January;Ul7, as compared with the month of January, 1916:—; .'" t % s '■> , ;^ ; - . '* :>■*•■''>-••.. January/ January. .' f " ' ,-1917. 1916. . .: , •*:•' . •■..;■> £ £ i£[f* Customs, v 230.314 ' 212,237 88.077* < Stumn & death ■■;.> ■:••.■■•' :*--,<,■,-,■,-' duties . v . 70,443 119,163 48,720? Postal and tele- . st& ~ •..;.. ..'-v ; t f>* graph "" v. 10.819 ! 11,003 - "6831 Land tax,.. 1 ' l 85.535 81,687 ' 8.838* Income tax., . ;; 22,494 ;' ,272,372 249,878t t : Beer duty ;•'.." 15.172 , 11,5581" j 3.614' i Railways, V V. 255.700 810,404 ? 64,704! Registration & > .i----other fees . . 12.513 11.695 ■?' 818* Marine .. 2,930 2.933 3t i Miscellaneous 16.561 16,868 j 807t Territorial... 15.499 ' 10,399 6,100* Other receipts — 6", . . 6t Totals .. £707,480 £1.010.384 i - Decrease, for January 1917. £302,854. . 'Increase.- : f Decrease. Ten Months' Receipts Compared, The revenue forjhe ten months ended January 31, 1917, compared with the ten '• months ended January 31, 1916, is shown in the following table :— Ten . -Ten months months ended ended Jan. 81, Jan. 31,. 1917. 1916. • '.•'"',' £ £ ' •' • £ Customs .. 3.174.077 2,667,544 606,538* fatamn & death ; • ,-••:., duties .. 1,325.919 1,086.532 239,387* Postal and tele- I graph .. 1,261.897. 1.127.311 184.68 C* , Land tax .. 689.431 1,011,822 ,822,391t Income tax ~ 105,183 • 334,727 229,544t Beer duty .. 150,775 ' 115.069 85.706* Railways -.. 8,784.217 8.894.179 340,038* I Registration & - , . ' •> | other fees 1. 84,433 80,768 8.665* Marine .. 34.555 86.785, 2,230* Miscellaneous 803,072 257.189 883* Territorial .. ■ 140,176 135,026 5150* National en- ' "; dowment revenue ... 85.971 92.655 6,684t Other receipts 2.253 12.073 D^Ot Totals . . £11.091,959 £10.851.680 *» Increase for 1917 period, £740,279. * Increase, t Decrease Ten Months' Expenditure. The following statement gives the expenditure from ordinary revenue account for the ten months ended January, 31, x.47, compared with the ten months ended January 31, 1916:— Ten months Ten months ended ended * Jan. 81, Jan. 81, v. ?- 1917. 1916, X £ £ £ Permanent charges-.- \ Civil fist .. 17.973 16,612 1,361* Interest and •' sinking, fund 8,814,895 , 2,906,084 408,861* 'Under special „'' i :■■..-: •Acts /•- -,;' 1,598,622/ 1,140,084 458,588* Annual Appro- ' ■■ ' I priations— Class legislative ... 80,689 80,863 274t Class finance 81,826 69,172 12,154* Class post and telegraph .. 862,687 802,816 60,271* Class railways 2,236,350 2,867,192 180,8361 Class publio buildings . . 64,763 76,699 11,9461 Class native 19.266 20,265 0991 Class justice 841761 330,543 11,218* Class mines 23,847 21,808 2,039* Class Internal affairs ~ 406,887 826,874 79,963* Class defenco 845,953 351,213 6,2601 Class Customs . and marine 180,898 128,175 2 523* Class labour 28,591 ■ 25,514' 1,077* Class lands and survey .. 155,721 197,481 41,710* Class agricul- , ture .., .. 172,602 153,312 19,190* Class educa- x tion .. .. 1,150,758 1,109,218 41,645* i Serviros not provided for . 28.439 4,841 24,098* Totals .. £11,009,474 £10,077,611 * Increase. t Decrease, • Public Works Fund in Credit. In the following table is shown the position of the Public Works Fund from April 1, 1916, to January 31, 1917:— £ Credit balance on April 1, 1916 . . 1,293.102 evcnD ,o .. .. 505,474 Expenditure ~ 982,0881 Credit balance January 31, 1917 .. £816,490