EXCHEQUER OF BRITAIN.

New Zealand Herald, Volume LXVI, Issue 20218, 1 April 1929, Page 9

EXCHEQUER OF BRITAIN.

SURPLUS OF £18,894,463.

EXCESS OVER THE ESTIMATE.

CHANCELLOR'S GOOD POSITION

Australian Press Association—United Service (Received March 31, 5.5 p.m.) LONDON, March 30.

The Exchequer returns are now complete for the financial year. The surplus amounts to £18,594,463, compared with the estimate of £14,502,000. The revenue totalled £753,104,055, expenditure £682,200,158 arid sinking fund £57,509,434.

The Chancellor of (lie Exchequer, Mr. Winston Churchill, is expected to he able to present an optimistic Budget. Apart from a provision for the relief of rating he will be most likely to rob the Labour Party of its cry fur a free breakfast table.

The surplus excess is due partly to (lie improvement in business and partly to the heavy death-roll of millionaires.

In last year's Budget the surplus was estimated at £14,502,000, so that realisation is nearly four millions better than the estimate. Against this, however, it is to bo noted that the sinking fund provision is about seven and a-lialf millions below the sum allowed for in the Budget.. Last year's sinking fund was £65,000,000, and the Budget estimates wero based on the same sum being provided this year.