THE NATIONAL ACCOUNT

New Zealand Herald, Volume LXII, Issue 19144, 9 October 1925, Page 10

THE NATIONAL ACCOUNT

[ HALF-YEAR'S STATEMENT. EXPANSION OF REVENUE. BALANCE MORE FAVOURABLE. ! [By TELEGRATH. —OWN CORRESPONDENT.] OAMARtT, Thursday. A substantial improvement in the position of the national finances, as disclosed by the accounts for the first six months of the financial year, was anaounced by the Prime Minister in his speech this evening. Mr. Coates said the net revenue for the six months ended September 30 was £12,034,840, as compared with £10,923,920 for the first half of last year, an increase of £1,110,920. Of this increase, £270.000 was interest received from discharged soldiers' settlement account, but not paid until the end of last year. Comparatively, therefore, the increase was £840,920. The principal increases were Customs, £291.500; railways, £238,200; post and telegraphs, £188.000; stamp and death duties, £202,400; and interest on public moneys, £267,300. , . The total net expenditure amounted to £12.989,161, as compared with £12.547,337 for the first six months of 1924, an increase of £441,824. The principal increase was railways, £317,990, mostly duo to increased wages, purchase of stores and material. An excess of expenditure over revenue in the first six months of the year was usual, but this year it was £954,321, as compared with £1.623,417 last year.